Robinhood Markets Inc. will acquire the European cryptocurrency exchange Bitstamp Ltd. for $200 million as part of the financial-technology company’s expansion outside of its home market in the US.
The deal, which is expected to close in the first half of next year pending regulatory approval, is Robinhood’s first foray into the institutional business, according to a Thursday statement. Robinhood’s shares jumped as much as 7.8%, pushing the stock price to the highest since December 2021.
Source link
Paige Smith
https://www.bloomberg.com/news/articles/2024-06-06/robinhood-to-buy-crypto-exchange-bitstamp-in-global-expansion
2024-06-06 07:00:00
