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Robinhood Buys One Of The Largest Crypto Exchanges For $200 Million

200 million dollars. Such an offer is being prepared by Robinhood Markets, co-owned by the Bulgarian Vlad Tenev, for the purchase of one of the largest crypto exchanges in the world – Bitstamp. 

KEY FACTS 

  • Trading platform Robinhood Markets announced it has agreed to buy crypto exchange Bitstamp for about $200 million in cash, accelerating its broader foray into digital assets to become a full-fledged financial services provider, the company said.
  • This is Robinhood’s largest deal to date. Before the start of trading, the shares of the company, co-owned by Bulgarian Vlad Tenev, rose by 3.4%.
  • The acquisition of Bitstamp, founded in 2011 with 50 active licenses and registrations worldwide, puts Robinhood in direct competition with industry giants such as Binance and Coinbase. The exchange has offices in Luxembourg, UK, Slovenia, Singapore and the US and has more than 50 active licenses and registrations worldwide, as well as clients in the EU, US, UK and Asia.
  • This acquisition will introduce Robinhood’s first institutional business and expand the company’s global expansion.
  • The deal is expected to boost Robinhood Crypto’s growth.

IMPORTANT QUOTE

“The acquisition of Bitstamp is an important step in the growth of our crypto business. Bitstamp’s highly reliable and long-standing global exchange has shown resilience through market cycles,” Johan Kerbrat, vice president and general manager of Robinhood Crypto, told Reuters.

ACCENT

The deal, which is expected to close in the first half of 2025, comes as Robinhood’s crypto business is experiencing rapid growth but also faces regulatory hurdles in the US. The company said it intends to continue communicating with regulators as the deal moves forward.

BIG NUMBER

69%. That’s how much growth Robinhood’s shares have reported since the beginning of the year. Analysts expect the company is poised for higher earnings amid a resurgence in retail trade and greater cryptocurrency adoption.

Digital Transactions: A Green Approach To Finance In Cyprus

As Cyprus increasingly embraces digital transactions, the environmental benefits of this shift are becoming evident. A recent report highlights that digital payments significantly reduce the carbon footprint associated with traditional banking operations. By decreasing the reliance on physical branches, paper-based processes, and the transportation of cash, digital transactions are contributing to a more sustainable financial ecosystem. This transition is in line with global initiatives to combat climate change and underscores Cyprus’ commitment to promoting a cleaner, more efficient financial landscape.

Digital transactions are not only more convenient and efficient but also significantly less resource-intensive. Traditional banking often involves extensive paperwork, the use of physical infrastructure, and the transportation of money, all of which contribute to higher carbon emissions. In contrast, digital transactions streamline these processes, resulting in lower energy consumption and reduced waste.

The environmental advantages of digital transactions are complemented by their economic benefits. By lowering operational costs and enhancing transaction speed and security, digital payments provide a compelling case for broader adoption. This shift supports sustainable development goals and aligns with the global push towards greener, more resilient economies.

Furthermore, the widespread adoption of digital transactions in Cyprus is expected to drive innovation within the financial sector. With the integration of advanced technologies such as blockchain and artificial intelligence, the digital financial landscape is set to become even more efficient and secure. These innovations not only enhance user experience but also contribute to environmental sustainability by further reducing the need for physical resources.

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