Fix! Robinhood Buys Bitstamp Crypto Exchange Worth IDR 3.2 Trillion

JAKARTA - On Thursday, June 6, Robinhood announced an ambitious plan to buy the Bitstamp crypto exchange with an impressive cash deal worth 200 million US Dollars (around IDR 3.2 trillion). This is not only the biggest expansionary move Robinhood has taken but also a maneuver that marks their commitment to becoming leaders in the fast-growing digital asset market.

Over the past decade, Robinhood has built a strong reputation among retail investors with innovative commission-free policies. Now, with Bitstamp acquisition, founded in 2011 and having more than 50 licenses and active registration worldwide, Robinhood puts itself in direct competition with industry giants like Binance and Coinbase. More than that, this acquisition is expected to accelerate the growth of the Robinhood crypto exchange by opening the door to a wider institutional business.

Bitstamp, with its popular spot exchanges in Asia and Europe, offers a variety of 85 tradable assets, as well as innovative products such as borrowing and staking. Quoted from CoinSpeaker, Johann Kerbrat, Vice President and General Manager of Robinhood, shared his enthusiasm in an interview with Reuters, We are at an early stage in the European Union and are excited to continue to grow there and around it. Bitstamp acquisition will accelerate our global expansion.

Robinhood plans to complete Bitstamp acquisition by 2025, a move that comes at a critical time when Robinhood faces rapid growth and regulatory hurdles in the United States. Despite facing challenges, including a Wells notification from the US Securities and Exchange Commission (SEC), Robinhood remains committed to communicating with regulators and continuing their journey.

The impressive first-quarter revenue from the Robinhood crypto business shows great potential in the sector. Amid market speculation and regulatory debate, Robinhood's share price has surged by 69% this year, signaling investor confidence in the growth strategy promised by the company.