Robinhood completes the acquisition of cryptocurrency exchange Bitstamp for $200 million

ChainCatcher news, according to Cointelegraph, Robinhood has completed a $200 million cash acquisition of the Luxembourg-based cryptocurrency exchange Bitstamp. This acquisition adds over 50 licenses and registrations to Robinhood's crypto business and brings a mature institutional client base. Bitstamp has over 5,000 institutional clients and 50,000 retail users, with the majority of its trading volume coming from institutional clients.

Robinhood stated that this acquisition significantly expands its crypto business presence in the European, UK, and Asian markets, and does not rule out further acquisitions in the crypto space in the future.