TechFlow, June 3 — According to Cointelegraph, Robinhood has completed its $200 million cash acquisition of Bitstamp, a Luxembourg-based cryptocurrency exchange. The acquisition adds more than 50 licenses and registrations to Robinhood's crypto business and brings an established institutional client base.
Bitstamp serves over 5,000 institutional clients and 50,000 retail users, with the majority of its trading volume coming from institutional clients. Robinhood stated that the acquisition significantly expands its crypto operations across Europe, the UK, and Asian markets. Robinhood also indicated it does not rule out further acquisitions in the crypto space in the future.
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