Robinhood Markets Inc has sealed a deal to acquire cryptocurrency exchange Bitstamp for $200 million.
Luxembourg-based Bitstamp is one of the oldest cryptocurrency exchanges globally, launched in 2011 by co-founders Nejc Kodrič and Damian Merlak.
The deal forms part of Robinhood’s expansion into markets outside of the US.
"The acquisition of Bitstamp is a major step in growing our crypto business,” said Johann Kerbrat, general manager of Robinhood Crypto.
“Bitstamp’s highly trusted and long-standing global exchange has shown resilience through market cycles.
“By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors."
Bitstamp’s chief executive JB Graftieaux added: "As the world’s longest-running cryptocurrency exchange, Bitstamp is known as one of the most-trusted and transparent crypto platforms worldwide.
“Bringing Bitstamp's platform and expertise into Robinhood’s ecosystem will give users an enhanced trading experience with a continuing commitment to compliance, security, and customer-centricity."
The deal is expected to close in the first half of 2025.