Robinhood expands crypto presence to Singapore via Bitstamp
Robinhood to launch crypto trading in Singapore via Bitstamp acquisition
Robinhood is set to expand its crypto services in Singapore through Bitstamp, the European exchange it acquired in a $200 million deal in June 2024.
The California-based brokerage aims to roll out crypto trading in late 2025, leveraging Singapore’s favorable regulatory framework for digital assets.
Singapore has positioned itself as a leading financial center in Asia, competing with Hong Kong to become the dominant digital asset hub. The city-state's clear regulatory approach has attracted major global players, including Robinhood, which sees Singapore as a strategic entry point for its Asian expansion.
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Bitstamp received in-principle approval from the Monetary Authority of Singapore (MAS) in March 2024, allowing it to offer digital payment token services in compliance with Singapore’s Payment Services Act. This regulatory approval played a crucial role in Robinhood’s acquisition decision, according to a Tuesday report from Bloomberg.
Robinhood’s global expansion strategy
Robinhood has been actively growing its crypto and trading businesses outside the U.S. In late 2023, it launched crypto trading in Europe, followed by U.S. equity options trading for UK customers in early 2024.
«Part of the reason why Bitstamp was attractive was because of their licenses with Singapore, in addition to its institutional business,» said Johann Kerbrat, vice president and general manager of Robinhood Crypto.
The company is also strengthening partnerships within the crypto industry. In 2024, it collaborated with Kraken and Galaxy Digital to launch the USDG stablecoin, issued by Paxos.
With Singapore serving as its Asia-Pacific headquarters, Robinhood is set to establish a stronger foothold in the global crypto market. While an exact launch date remains unconfirmed, the company expects to complete its Bitstamp integration in the first half of 2025 before rolling out services later in the year.
