Popular trading platform, Robinhood, has reached an agreement to acquire cryptocurrency exchange, Bitstamp. This purchase aims to bolster Robinhood’s presence in the crypto space across the world while simultaneously attracting institutional clients by offering new products.
Barclays Capital Inc. acted as the exclusive financial advisor to Robinhood throughout this transaction, while Galaxy Digital Partners LLC served as the exclusive financial advisor to Bitstamp.“The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long standing global exchange has shown resilience through market cycles.
This move is anticipated to facilitate Robinhood’s goal of expanding its global reach beyond the United States and attracting institutional clients to its platform. The US Securities and Exchange Commission Despite the regulatory scrutiny in the country, Robinhood’s crypto revenue soared to $618 million, reflecting a 40% year-over-year increase.
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Source: CoinDesk - 🏆 291. / 63 Read more »