Robinhood Markets Inc. is planning to increase its crypto providers in Singapore later this 12 months. Based on Bloomberg’s report, the U.S.-based monetary platform intends to enter the Singapore market by a brand new entity related to Bitstamp, a European digital property alternate that it acquired for $200 million in June 2024.
The corporate needs to start out this service after it finalizes the acquisition of Bitstamp within the first half of 2025, pending regulatory approval.
Johann Kerbrat, Vice President and Basic Supervisor of Robinhood Crypto, stated that Bitstamp’s licenses in Singapore have been one of many causes it determined to purchase the corporate
“A part of the rationale why Bitstamp was enticing was due to their licenses with Singapore, along with its institutional enterprise,” Kerbrat defined in an interview with Bloomberg.
In the meantime, Singapore has emerged as a giant middle for digital property. The nation is attracting crypto companies that wish to function in a pleasant regulatory setting.
Proper now, it’s competing with Hong Kong, which can be one other hub for crypto and blockchain enterprise.
Robinhood needs to broaden to Singapore to reap the benefits of the rising demand for cryptocurrencies in Asia. The corporate can be increasing to different elements of the globe, having began buying and selling in crypto in Europe in 2023. It began providing fairness choices buying and selling for patrons within the UK early this 12 months, 2025.
Robinhood’s acquisition of Bitstamp permits it to be licensed in quite a few European nations resembling Italy, Spain, and France. Via this, Robinhood is able to present its providers in extra places and never solely in Singapore. The agency seeks to offer a full vary of monetary merchandise, together with typical in addition to digital property.
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