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Robinhood is set to expand its cryptocurrency operations into Singapore by late 2025 through a strategic partnership with European exchange Bitstamp which it acquired for $200 million. This move comes after receiving in-principle approval from Singapore’s Monetary Authority in March 2024 enabling digital payment token services under the city’s Payment Services Act.
Johann Kerbrat the vice president and general manager of Robinhood Crypto highlighted the acquisition’s completion in the first half of the year as a pivotal step towards establishing Singapore as a central hub for its Asian trading operations. The city-state is emerging as a significant player in the digital asset sphere aiming to outpace Hong Kong with robust regulatory frameworks.
Further solidifying its global stance last year Robinhood initiated crypto trading in Europe and introduced US equity options for UK customers. Plans to base broader trading businesses in Asia with Singapore as the headquarters underscore its commitment to enhancing its presence across the global cryptocurrency market.
