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Robinhood to Purchase Bitstamp Cryptocurrency Exchange in All Cash 200 Million Deal

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devotedman
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last monthSteemit

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There's been a declaration by Robinhood markets about their new deal to purchase the popular Bitstamp Ltd; which is the longest functioning crypto exchange. This purchase is all in cash, and the deal is $200 million.

With this purchase of Bitstamp, by Robinhood; their objective is to expand their global presence. By so doing, gain access into the institutional cryptocurrency industry; accelerating their growth worldwide.

This deal is anticipated to be completed by 2025, in the first 6 months. Furthermore, there's need for approval of this deal by regulatory authorities. This deal will support Robinhood in gaining worldwide licenses, already acquired by Bitstamp.

This intelligent purchase will grow Robinhood's cryptocurrency outreach worldwide, by taking advantage of more than 50 registrations and licenses that Bitstamp has acquired. This deal will stretch Robinhood influence to UK, Asia, EU and the US; increasing their user base greatly.

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