Robinhood Eyes Singapore Crypto Market by 2025

Robinhood Markets Inc., the popular trading platform, has set its sights on expanding into Singapore's burgeoning crypto market by the end of 2025. This strategic move follows the company's acquisition of European digital-assets exchange Bitstamp in a $200 million deal completed in June 2024.

Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, revealed the company's plans to Bloomberg, stating that Robinhood aims to roll out its crypto services in Singapore after finalizing the Bitstamp acquisition in the first half of 2025. This expansion will strengthen Robinhood's presence in the Asia-Pacific region, capitalizing on Singapore's growing status as a digital assets hub.

The global crypto market has witnessed remarkable growth, reaching an all-time high of $3.2 trillion by the end of January 2025, driven by increased adoption and institutional investor interest. While Robinhood has not yet set a specific launch date for its Singapore operations, Kerbrat highlighted the significance of Bitstamp's licenses in the country as a key factor in the acquisition.

Bitstamp's in-principle approval from the Monetary Authority of Singapore (MAS) under the country's Payment Services Act, along with its licenses in several European countries, made it an attractive target for Robinhood. The company is also exploring further expansion in Asia by pursuing brokerage licenses, enabling it to diversify its revenue by offering traditional financial products such as equity trading alongside its digital asset services.

Robinhood's CEO, Vlad Tenev, announced the company's global expansion strategy in December 2024, stating that it plans to serve customers across Asia soon. The company's crypto business experienced a remarkable 700% increase in crypto trading revenue during the fourth quarter of 2024, contributing significantly to Robinhood's overall success. The company surpassed Wall Street's expectations, posting total revenue of over $1 billion for the quarter, with crypto trading accounting for over a third of its transaction-based revenue.

Robinhood's stock rose by 2.32% on Tuesday, trading at $65.23, reflecting investors' confidence in the company's expansion plans and its growing focus on the crypto market.