Robinhood will acquire Bitstamp in order to expand into non-US markets and offer products for institutional clients
According to a Thursday announcement, the acquisition deal will help its expansion efforts outside the US. Robinhood will be able to leverage Bitstamp's collection of active licenses and registrations around the world.
Bitstamp, which started operating back in 2011, is one of the oldest and most reputed cryptocurrency exchanges. The Luxembourg-based exchange is known for its Johann Kerbrat, general manager of Robinhood Crypto, has noted that Bitstamp has"one of the strongest reputations" across retail investors and sophisticated institutions.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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