UK-based bitcoin (BTC) and cryptocurrency change Bitstamp is about to be acquired by US monetary providers firm Robinhood Markets.
The settlement, which was communicated at this time by means of the official website of the European change, will likely be accomplished in mid-2025 for a sum of $200 million in money.
Within the announcement, Johann Kerbrat, vp and basic supervisor of Robinhood, underlined the relevance of the union with Europe’s largest cryptocurrency change, Bitstamp:
“The acquisition of Bitstamp is a crucial step in rising our cryptocurrency enterprise. Bitstamp is a long-established and extremely trusted world change that has demonstrated resilience out there.”
Johann Kerbrat, Vice President and CEO of Robinhood.
By this addition, the biggest in its 11 years of existence, Robinhood Markets’ objective is to extend product choices towards a additional push for digital property.
Relating to this, Kerbrat assured that the corporate intends to achieve new monetary horizons and attain new buyers on different continents:
“By this strategic mixture, we’re higher positioned to increase our presence exterior the US and welcome institutional purchasers to Robinhood.”
Johann Kerbrat, Vice President and CEO of Robinhood.
Why did Robinhood Markets select Bitstamp?
Bitstamp is among the oldest bitcoin and cryptocurrency buying and selling platforms on this planet.. Based by Damian Merlak and Nejc Kodric in August 2011, it’s presently the biggest in Europe.
In the intervening time is positioned throughout the high 20 cryptocurrency exchanges on the CoinMarketCap internet platform. The checklist comprises 252 change websites within the digital ecosystem and, as mirrored within the following picture, Bitstamp occupies the sixteenth place with a every day buying and selling quantity of $241.205 million. As well as, it permits operations with 90 cryptocurrencies in 191 markets.
Then again, Bitstamp permits its customers to commerce each US {dollars} (USD) and euros for numerous cryptocurrencies.
On the similar time, Bitstamp was thought of for a few years the supplier of the “official bitcoin value” by most bitcoiners., for being the change with the longest historical past. This digital monetary firm affords its providers to five million customers and consists of a complete of 51 world licenses and rules.
In 2019 it acquired BitLincense from the New York Division of Monetary Companies. This lets you increase your operations to customers residing in the US.
