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Today’s deal not only signals California-based Robinhood’s continued push into crypto, but also its international expansion efforts. The company launched its core stock-trading product in the U.K. last November, and started offering crypto trading in the European Union (EU) shortly afterwards.
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“The acquisition of Bitstamp is a major step in growing our crypto business,” Robinhood’s crypto general manager, Johann Kerbrat, said in a statement. “The Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors. Through this strategic combination, we are better positioned to expand our footprint outside of the U.S. and welcome institutional customers to Robinhood.”
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