Robinhood Set to Acquire Bitstamp in $200M Deal

• Bitstamp expands institutional services in Australia ahead of Robinhood’s $200M acquisition.  
• Asia contributes 20% of Bitstamp’s revenue, with Australia offering significant growth potential.  
• Robinhood plans to integrate Bitstamp’s infrastructure to boost crypto offerings for investors.

Bitstamp is gearing up to expand its institutional operations in Australia, strengthening its presence in Asia. This move comes as Robinhood is set to acquire Bitstamp in a $200 million deal, expected to be finalized in early 2025.

In an interview at the Token2049 conference in Singapore, Bobby Zagotta, Bitstamp’s global chief commercial officer, highlighted the company’s aim to broaden its services for institutional clients in Australia.

Zagotta stressed Asia’s potential, pointing to Hong Kong and Singapore as key markets. He noted Bitstamp’s growing footprint in Australia and its unique offerings for institutional clients in a market with limited choices.

Zagotta shared insights into Bitstamp’s revenue distribution, revealing that Asia contributes roughly 20% to its global revenue, while Europe accounts for about 65%. With less competition in Australia, especially compared to major players like Binance and Kraken, Bitstamp sees a big chance to attract institutional clients.

Robinhood Acquisition and Future Plans

Robinhood’s acquisition of Bitstamp is progressing, with the company seeking the necessary approvals from regulators. Zagotta expressed confidence in the regulatory process, stating, “We’re confident in that timeline.”

Integrating Bitstamp’s infrastructure with Robinhood’s retail trading base could offer a wider range of product offerings, particularly as Robinhood plans to launch a derivatives exchange for institutional investors.

Read also: Robinhood’s Main Product is the “Robinhood Crypto in the US” – GM

Also, Johann Kerbrat, Robinhood’s crypto general manager, underscored the significance of this acquisition in expanding its crypto services. He mentioned that Bitstamp’s capabilities will support Robinhood’s broader growth initiatives, especially in tokenization and advanced trading features.

Kerbrat noted that Robinhood aims to provide a smooth experience for traders, highlighting that users could gain access to an average of 3.6% more crypto assets compared to competitors.

In addition, the acquisition of Bitstamp strengthens Robinhood’s services for both retail and institutional clients. Kerbrat noted that newly developed tools will enhance trading options, solidifying Robinhood’s competitive stance in the crypto market.