Robinhood to Launch Crypto Services in Singapore by 2025
Robinhood Markets Inc. is planning to increase its crypto companies in Singapore later this yr. In response to Bloomberg’s report, the U.S.-based monetary platform intends to enter the Singapore market by a brand new entity related to Bitstamp, a European digital property alternate that it acquired for $200 million in June 2024.
The corporate desires to start out this service after it finalizes the acquisition of Bitstamp within the first half of 2025, pending regulatory approval.
Johann Kerbrat, Vice President and Normal Supervisor of Robinhood Crypto, stated that Bitstamp’s licenses in Singapore have been one of many causes it determined to purchase the corporate
“A part of the explanation why Bitstamp was engaging was due to their licenses with Singapore, along with its institutional enterprise,” Kerbrat defined in an interview with Bloomberg.
In the meantime, Singapore has emerged as a giant middle for digital property. The nation is attracting crypto corporations that wish to function in a pleasant regulatory atmosphere.
Proper now, it’s competing with Hong Kong, which can also be one other hub for crypto and blockchain enterprise.
Robinhood desires to increase to Singapore to make the most of the rising demand for cryptocurrencies in Asia. The corporate can also be increasing to different components of the globe, having began buying and selling in crypto in Europe in 2023. It began providing fairness choices buying and selling for patrons within the UK early this yr, 2025.
Robinhood’s acquisition of Bitstamp allows it to be licensed in quite a few European nations akin to Italy, Spain, and France. By this, Robinhood is able to present its companies in extra places and never solely in Singapore. The agency seeks to offer a full vary of economic merchandise, together with standard in addition to digital property.
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