- Robinhood plans Singapore crypto services launch by late 2025 following $200 million Bitstamp acquisition.
- Bitstamp’s regulatory licenses in Singapore were a key factor in Robinhood’s acquisition decision.
- Global crypto market capitalization reached $3.2 trillion by January 2025, indicating strong market conditions.
- Robinhood reported a 700% increase in crypto trading revenue in Q4 2024.
- The company is establishing its Asian headquarters in Singapore as part of regional expansion strategy.
Robinhood Markets Inc. is expanding its cryptocurrency operations into Asia, announcing plans to launch digital asset services in Singapore by late 2025, leveraging its recent Bitstamp acquisition to establish a foothold in the region’s growing crypto market.
The $200 million acquisition of Bitstamp, completed in June 2024, provides Robinhood with crucial regulatory clearances in Singapore, including in-principle approval from the Monetary Authority of Singapore (MAS) under the Payment Services Act. Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, told Bloomberg, “Part of the reason why Bitstamp was attractive was because of their licenses with Singapore, in addition to its institutional business.”
The expansion comes amid unprecedented growth in the cryptocurrency sector, with global market capitalization reaching $3.2 trillion by January 2025, according to CoinGecko data. This surge reflects increasing institutional adoption and broader market acceptance of digital assets.
Robinhood’s crypto division has shown remarkable performance, with a 700% increase in crypto trading revenue during Q4 2024. The company’s total revenue exceeded $1 billion in the same quarter, with cryptocurrency transactions accounting for more than one-third of transaction-based revenue.
CEO Vlad Tenev previously announced the establishment of Singapore as the company’s Asian headquarters, stating, “We plan to be serving customers across Asia soon.” The company is also pursuing brokerage licenses to offer traditional financial products alongside its crypto services.
Robinhood’s stock performance reflects investor confidence in its expansion strategy, with shares trading at $65.23, up 2.32% according to Google Finance data. The company’s move into Singapore positions it to capitalize on the city-state’s growing importance as a digital asset hub in the Asia-Pacific region.
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