Robinhood Finalizes $200 Million Acquisition of Bitstamp, Bolstering Global Crypto Expansion

Robinhood Markets, Inc. has completed its $200 million acquisition of Bitstamp, one of the world’s longest-running cryptocurrency exchanges, marking a significant step in its push to expand its cryptocurrency operations globally. The all-cash deal, first announced in June 2024, integrates Bitstamp’s extensive regulatory licenses and institutional client base into Robinhood’s growing crypto division, positioning the brokerage to compete more effectively with established players like Coinbase. The acquisition comes amid a broader wave of consolidation in the crypto industry, driven by favorable regulatory shifts in the United States.

Strategic Expansion Through Bitstamp’s Established Infrastructure

Founded in 2011, Bitstamp is a Luxembourg-based exchange with operations in the UK, Slovenia, Singapore, and the United States. It holds over 50 active licenses and registrations, serving more than 5,000 institutional clients and 50,000 retail customers. The majority of its trading volume stems from its institutional base, making it an attractive target for Robinhood, which has historically focused on retail investors but is now seeking to capture a larger share of the institutional market.

The acquisition enhances Robinhood’s global reach, particularly in Europe, the UK, and Asia, where Bitstamp has a well-established presence. Johann Kerbrat, General Manager of Robinhood Crypto, highlighted the strategic fit in an interview with CNBC, noting, “for us, it’s combining the strengths of the two businesses. We are one of the largest retail marketplaces in the U.S. ... They have products that we don’t have, like order books, crypto as a service, advanced API and lending and staking, and thanks to that, we will be able to get into this space not starting from scratch.” He emphasized that the acquisition is “a big step for us and really diversify our crypto business” by leveraging Bitstamp’s regulatory approvals.

Robinhood’s move follows a broader trend of mergers and acquisitions in the crypto sector in 2025, spurred by a more favorable regulatory environment under the administration of U.S. President Donald Trump. For instance, Coinbase recently acquired Deribit for $2.9 billion, and Ripple purchased prime brokerage firm Hidden Road for $1.25 billion. Robinhood itself acquired Canadian crypto platform WonderFi for approximately $179 million in May, further signaling its aggressive push into international markets.

Financial Context and Robinhood’s Broader Strategy

The $200 million deal, paid entirely in cash, aligns with Robinhood’s robust financial performance in the crypto sector. In the first quarter of 2025, Robinhood reported crypto-related revenue of $252 million, accounting for around 43% of its $583 million in transaction-based revenues—a 100% year-on-year increase. Crypto trading volumes on the platform also surged by 28% to $46 billion during the same period. Bitstamp, for its part, generated $95 million in revenue over the 12 months ending April 30, underscoring its value as a revenue-generating asset.

Robinhood’s crypto ambitions extend beyond this acquisition. The company has been actively expanding its offerings, including listing memecoins like Pengu (PENGU), Pnut (PNUT), and Popcat (POPCAT) in March to cater to retail demand. Additionally, Robinhood plans to launch crypto trading products in Singapore through Bitstamp, leveraging the exchange’s regulatory approvals in the region. This move aligns with Robinhood’s broader strategy to diversify its crypto portfolio and compete with industry leaders.

The acquisition also comes at a time when Robinhood is navigating regulatory challenges. In March, the company agreed to pay $29.75 million to settle probes by the Financial Industry Regulatory Authority (FINRA) related to compliance and supervision issues. Separately, the U.S. Securities and Exchange Commission dropped a probe into Robinhood’s crypto division in February, providing a clearer path for its expansion.

In the interview with CNBC, Kerbrat indicated that the company has not ruled out the possibility of acquiring additional cryptocurrency-related businesses.“If we can find a way to accelerate by at least 18 months or two years — and we have a lot of great reason to believe this is a great acquisition — it’s something that we’ll definitely look at,” he said.