Online broker Robinhood intends to acquire cryptocurrency exchange Bitstamp in a potential deal valued at $200 million, with the aim of increasing its presence in the global market, The Block has reported.
The acquisition is expected to be finalized in the first half of 2025, pending regulatory approvals and other closing conditions, Robinhood's statement released Thursday said.
Barclays Capital Inc. and Galaxy Digital Partners LLC acted as respective financial advisors to Robinhood and Bitstamp.
Bitstamp, founded in 2011, is the oldest operating crypto platform and has more than 50 licenses and registrations worldwide.
Upon completion of the agreement, Robinhood will gain access to Bitstamp's retail clients in the EU, UK, US and Asia and will enter the world of institutional cryptocurrency clients for the first time.