Robinhood has snapped up crypto exchange Bitstamp for $20 million in cash. This isn't just a number; it significantly expands Robinhood’s crypto business by adding over 50 licenses and registrations, covering multiple markets including key growth areas like Europe and Asia.
Furthermore, the deal brought millions of users plus a mature base of more than five thousand institutional clients (who generate most of Bitstamp's volume) and tens of thousands of retail customers into the fold. Basically,