Robinhood Markets Inc. is moving forward with its acquisition of Bitstamp Ltd., a global cryptocurrency exchange.
As part of this process, Robinhood Crypto LLC has submitted a change of control application to the New York Department of Financial Services (NYDFS), which announced it received the application on July 3, 2024.
This is one of several regulatory steps required for the acquisition, which is expected to close in the first half of 2025, pending approvals.
Robinhood said last month that it anticipates the final deal value to be around $200 million in cash, subject to customary purchase price adjustments.
This acquisition is poised to significantly boost Robinhood’s cryptocurrency offerings and broaden its international footprint.