Trading platform Robinhood Markets Inc. is aiming to launch their crypto services by the end of 2025 after completing its $200 million acquisition in June 2020 of European digital asset exchange Bitstamp.
Johann Kerbrat told reporters that he is the Vice President of Robinhood Crypto and its General Manager. Bloomberg After completing Bitstamp’s acquisition during the first half 2025, the company will roll out their crypto services to Singapore.
Robinhood will now have a stronger presence in Asia-Pacific by utilizing Singapore’s growing prominence as a hub for digital assets.
Robinhood is stepping into the Asian market just as the global crypto space hits new highs—topping $3.2 trillion by January's end as per CoinGecko data—fueled by a rush of adoption and institutional investor interest.
Kerbrat stated that Bitstamp licenses were the main reason for this acquisition.
“Part of the reason why Bitstamp was attractive was because of their licenses with Singapore, in addition to its institutional business,” He cited in his statement the Monetary Authority of Singapore’s (MAS’s) principle approval of the exchange under Singapore’s Payment Services Act.
It is also licensed in many European countries including Italy, Spain and the Netherlands.
Robinhood plans on expanding further in Asia. By acquiring brokerage licences, the company can diversify their revenue stream by offering traditional financial products like equity trading alongside its digital asset service suite.
This move by the California-based broker platform to Singapore is part its global expansion plan, which also includes its establishment of a regional headquarters in Singapore.
Vlad Tenev, CEO of the company, made an announcement in December. “We plan to be serving customers across Asia soon.”
In the fourth quarter 2024, crypto revenue for the crypto division of this company increased 700%. Robinhood, which has exceeded Wall Street expectations by posting a total quarterly revenue of more than $1 billion, attributed the surge in revenues to its overall success.
The company reported that crypto trading represented over a quarter of its transaction-based revenues, which shows the growing importance of cryptocurrency in Robinhood’s bottom line.
Google Finance shows that Robinhood stock increased by 2.32% Tuesday. It traded at $65.23, up from $59.97.