Robinhood Acquires Bitstamp for $200 Million Expanding Crypto Footprint

Robinhood Markets, Inc. has finalized the acquisition of Luxembourg-based crypto exchange Bitstamp for $200 million. This acquisition, which was initially agreed upon in June 2024, was completed entirely in cash. The deal brings over 50 licenses and registrations to Robinhood's crypto arm, along with an established institutional client base. Bitstamp serves over 5,000 institutional clients and 50,000 retail customers, with a significant portion of its trading volume driven by its institutional base. This acquisition marks a significant expansion for Robinhood, extending its crypto footprint beyond the US into European, UK, and Asian markets.

Bitstamp reported $95 million in revenue for the last 12 months ending April 30, while Robinhood’s crypto business made $252 million in the first quarter of 2025. Robinhood has already begun integrating Bitstamp’s crypto platform, which is now connected to Robinhood Legend and its Smart Exchange Routing offering. The company expects to record approximately $65 million of Bitstamp-related costs over the remaining seven months of 2025. This strategic move is part of Robinhood's broader plan to strengthen its presence in the cryptocurrency market and attract more institutional clients. By leveraging Bitstamp's established infrastructure and regulatory compliance, Robinhood aims to offer a more comprehensive and secure trading experience for its users.

Robinhood's acquisition of Bitstamp is not its only recent move in the crypto space. The company has also agreed to acquire Canadian crypto platform WonderFi for approximately $179 million. This acquisition is part of a broader strategy to strengthen its presence in the Canadian market. Robinhood Crypto general manager Johann Kerbrat has indicated that the firm hasn't ruled out the possibility of other crypto acquisitions in the future. "If we can find a way to accelerate by at least 18 months or two years — and we have a lot of great reason to believe this is a great acquisition — it’s something that we’ll definitely look at," Kerbrat said. This statement underscores Robinhood's commitment to expanding its crypto offerings and becoming a leading player in the cryptocurrency market.

Robinhood's CEO Vladimir Tenev has highlighted tokenization as a key focus for the company's future crypto offerings. Tenev believes that tokenizing private equities is a "huge unlock" for both individuals and companies, solving a lot of problems in secondary market transactions. He previously pointed out that crypto tokenization could let investors buy tokenized shares in big-name private firms like OpenAI and SpaceX within minutes. This focus on tokenization reflects Robinhood's ambition to unlock significant economic value for the crypto industry in the US and beyond. By expanding its crypto offerings into real-world asset tokenization, Robinhood aims to provide its users with innovative and valuable investment opportunities.