Robinhood buys crypto platform Bitstamp for $200 million

The American platform bought Bitstamp in cash. This is his biggest operation ever.

200 million dollars. This is the amount that Robinhood has just spent to buy Bitstamp, one of the oldest cryptocurrency platforms, created in 2011. Robinhood announced Thursday, June 6 in a press release that it was buying Bitstamp to “accelerate its push into digital assets” . This is his biggest operation ever.

“Robinhood Markets Inc. has entered into an agreement to acquire Bitstamp Ltd., a global cryptocurrency exchange. Its acquisition will significantly accelerate the expansion of Robinhood Crypto around the world,” the company wrote in its press release.

Bitstamp was founded in 2011 and has over 50 active licenses and registrations worldwide. It will attract customers from the European Union, the United Kingdom, the United States and Asia to Robinhood. The company is currently looking for growth drivers. This is why it is banking on cryptocurrencies.

“The acquisition of Bitstamp is a major milestone in the growth of our crypto business. Bitstamp’s long-standing and highly trusted global exchange has demonstrated resilience throughout market cycles. By seamlessly combining experience customer and security across geographies, the Bitstamp team has built one of the strongest reputations among retail and institutional crypto investors,” said Johann Kerbrat, Managing Director of Robinhood Crypto.

Following this announcement, Robinhood gained more than 6% on Thursday June 6 on the New York Stock Exchange (Nasdaq). The sale of Bitstamp is expected to be finalized next year.