Robinhood Markets Inc. has announced its agreement to acquire Bitstamp, a UK-based cryptocurrency exchange, for approximately $200 million in cash. This acquisition is part of Robinhood's strategy to broaden its cryptocurrency services and establish a more substantial presence in international markets.

Bitstamp, founded in 2011, is one of the longest-standing crypto exchanges, boasting over 85 tradable assets and holding more than 50 active licenses and registrations globally. The acquisition is expected to provide Robinhood with a robust platform to serve both retail and institutional clients, particularly in Europe and Asia. 

Johann Kerbrat, General Manager of Robinhood Crypto, stated that integrating Bitstamp's platform and expertise will enhance the trading experience for users, emphasizing a commitment to compliance, security, and customer-centricity. The deal is anticipated to close in the first half of 2025, pending regulatory approvals. 

This move aligns with Robinhood's ongoing efforts to diversify its offerings and solidify its position in the competitive cryptocurrency market. By leveraging Bitstamp's established infrastructure and global reach, Robinhood aims to attract a broader user base and compete more effectively with industry leaders such as Binance and Coinbase. 

The acquisition also reflects the growing trend of consolidation within the cryptocurrency industry, as companies seek to enhance their capabilities and expand…