In a strategic move aimed at bolstering its presence in the global cryptocurrency market, Robinhood, the popular stock and crypto trading platform, is poised to acquire Bitstamp in a potential deal worth $200 million.

According to a statement released on Thursday, the cash transaction is slated to be finalized in the first half of 2025, pending customary closing conditions and regulatory approvals. Barclays Capital Inc. acted as the exclusive financial advisor to Robinhood, while Galaxy Digital Partners LLC served in the same capacity for Bitstamp.

Established in 2011, Bitstamp holds the distinction of being the oldest operating cryptocurrency exchange, boasting more than 50 licenses and registrations worldwide. Through this acquisition, Robinhood aims to consolidate its position in key markets such as the European Union, the United Kingdom, the United States, and Asia, while also gaining access to Bitstamp's institutional clientele.

Johann Kerbrat, General Manager of Robinhood Crypto, emphasized the significance of the acquisition in expanding the platform's crypto business. He highlighted Bitstamp's reputation for trustworthiness and resilience across market cycles, noting that the merger positions Robinhood to broaden its global footprint and cater to institutional customers.

Bitstamp's comprehensive suite of services, which includes staking and lending products alongside its crypto exchange offerings, is expected to complement Robinhood's existing crypto platform, which boasts over 85 tradable assets.

JB Graftieaux, CEO of Bitstamp, expressed confidence in the synergies between the two platforms, emphasizing Bitstamp's commitment to compliance, security, and customer-centricity. He underscored the potential for an enhanced trading experience for users as Bitstamp's expertise is integrated into Robinhood's ecosystem.

As part of the acquisition, Bitstamp's talented team will join forces with Robinhood, further solidifying the platform's capabilities and positioning it for sustained growth in the dynamic and evolving cryptocurrency landscape.