3 months ago
The trading level plans to debut the products aft completing its acquisition of Bitstamp.
Feb 18, 2025, 12:54 p.m. UTC
Trading level Robinhood (HOOD) plans to present crypto products successful Singapore this twelvemonth pending the completion of its acquisition of crypto speech Bitstamp, Bloomberg reported connected Tuesday.
Robinhood agreed to buy Bitstamp successful June and the $200 cardinal acquisition is expected to adjacent successful the archetypal fractional of the year. The motorboat of Robinhood's crypto products successful the portion should travel soon aft the woody closes, Johann Kerbrat, vice president and wide manager of Robinhood Crypto, told Bloomberg successful an interview.
“Part of the crushed wherefore Bitstamp was charismatic was due to the fact that of their licenses with Singapore, successful summation to its organization business,” Kerbrat said.
Bitstamp secured an in-principle licence from the Monetary Authority of Singapore past year. The licence paves the mode for the institution to get a Major Payment Institution licence and supply integer token services successful the country, Bitstamp said astatine the clip successful a statement.
At a gathering successful 2024, Robinhood CEO Vlad Tenev said the institution would grow into Asia this twelvemonth and Singapore would beryllium its basal successful the region.
Neither Robinhood nor Bitstamp responded to a petition for remark earlier publication.
Camomile Shumba
Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. Previously, Shumba interned astatine Business Insider and Bloomberg. Camomile has featured successful Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner. Shumba studied politics, doctrine and economics arsenic a combined grade astatine the University of East Anglia earlier doing a postgraduate grade successful multimedia journalism. While she did her undergraduate grade she had an award-winning vigor amusement connected making a difference. She does not presently clasp worth successful immoderate integer currencies oregon projects.
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