Trading platform Robinhood has agreed to buy U.K.-based crypto exchange Bitstamp for $200 million in cash.UnmuteTrading platform Robinhood has agreed to acquire crypto exchange Bitstamp as it looks to expand its crypto presence globally and attract institutional clients through new product offerings, the company announced Tuesday.
“The acquisition of Bitstamp is a major step in growing our crypto business," said Johann Kerbrat, general manager of Robinhood Crypto"Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles … 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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