Robinhood’s Crypto Adventure: Bitstamp Acquisition and Singapore Expansion

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Ah, Robinhood Markets Inc., a digital asset brokerage firm, plans to expand its crypto services to Singapore before the end of this year through its newly acquired partner, Bitstamp. The firm, which specializes in the stock market, aims to leverage Bitstamp’s regulatory approval to establish a stronger foothold in Asia.

Robinhood’s crypto arm, Robinhood Crypto, announced its plans to acquire Bitstamp in June 2024 for $200 million. At the time, the company stated that the move was part of a broader effort to expand its digital asset business and strengthen its presence in the rapidly growing global crypto market. According to CoinMarketCap, the market is currently valued at approximately $3.16 trillion.

Leveraging Bitstamp’s Singapore License

While the acquisition is yet to be closed, Johann Kerbrat, vice president and general manager of Robinhood Crypto, revealed in an interview with Bloomberg that Bitstamp’s presence in Singapore was a key factor in the deal. He stated that Robinhood intends to utilize Bitstamp’s operational license in Singapore to enter the market as a regulated platform.

Bitstamp had previously secured in-principle approval from the Monetary Authority of Singapore (MAS) in 2024, prior to its acquisition by Robinhood. As part of its expansion strategy, Robinhood is actively working with local regulators to ensure its product offerings comply with Singapore’s regulatory standards, allowing users to trade cryptocurrencies within a secure and regulated environment.

The company first disclosed its plans for Asian expansion last December. CEO Vlad Tenev mentioned that Singapore could serve as the company’s regional base due to its progressive crypto regulatory framework.

Singapore’s Growing Crypto Hub

Singapore, alongside Hong Kong, has emerged as a prime destination for offshore crypto firms looking to tap into the Asian market. The country’s dedicated regulatory regime and tokenization initiatives have attracted major crypto players, including Ripple, which holds a major payment institution license from MAS. Other firms such as Binance, Coinbase, Crypto.com, and BitGo have also established operations in the region.

While Robinhood is working towards its official entry into Singapore, it has been steadily expanding its footprint globally. The firm entered the Spanish market in January 2025 and recently introduced futures trading for assets like gold, Bitcoin and oil.

Despite its expansion efforts, Robinhood has faced regulatory challenges. In January 2025, the company reached a $45 million settlement with the US  Securities and Exchange Commission (SEC). The SEC alleged that Robinhood Securities LLC and Robinhood Financial LLC violated federal securities laws by failing to report suspicious activities between 2018 and 2024. The regulatory body claimed that the company’s lapses in safeguarding customer data undermined its obligations under anti-money laundering laws.

While challenges persist, Robinhood remains committed to its global expansion, with Singapore now a key target in its mission to grow its digital asset services.

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2025-02-18 19:13