Robinhood Markets, Inc. (HOOD) Completes Bitstamp Acquisition

Robinhood Markets, Inc. (NASDAQ:HOOD) has announced the completion of its largest acquisition to date, a $200 million all-cash purchase of Bitstamp, signaling the company’s formal entry into the institutional crypto trading space.

The strategic buyout grants access to more than 50 global licenses along with a seasoned infrastructure for lending, staking, and third-party crypto services.

Robinhood Markets, Inc. (NASDAQ:HOOD) Deepens Crypto Play with Bitstamp Acquisition

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After its incorporation in 2013, Robinhood Markets, Inc. (NASDAQ:HOOD) quickly gained popularity by democratizing retail investing. By completing the acquisition of Bitstamp, one of the longest-operating crypto exchanges, the company is now in possession of a ready-made institutional base and inherited order book trading capabilities as well as extended reach across Europe, the UK, and Asia.

Johann Kerbrat, Robinhood Crypto General Manager, made the following comment:

“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.”

Through Robinhood Ledger, the company’s institutional web platform, Robinhood Markets, Inc. (NASDAQ:HOOD) has already begun using Bitstamp’s systems for smart order routing. It also plans to preserve Bitstamp’s existing operations and integrate them deeper with the company over time.

The stock’s performance over the past month, potentially influenced by the acquisition buzz, has been positive, reaching a growth of 45.82%.

Robinhood Markets, Inc. (NASDAQ:HOOD) is a California-based financial technology company best known for its commission-free electronic trading platform and its expanding presence in digital asset markets.

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