Robinhood to Launch Crypto Products in Singapore Via Bitstamp

Robinhood will introduce its crypto offerings in Singapore following its acquisition of Bitstamp last year.

Johann Kerbrat, vice president and general manager of Robinhood Crypto, told Bloomberg that although an official launch date has not yet been confirmed, the exchange plans to launch its products in the city-state by late 2025.

In December 2024, Robinhood announced plans to launch its overall trading businesses in Asia, with Singapore serving as its regional headquarters.

Bitstamp was acquired by Robinhood for $200 million in June 2024 as part of its global expansion ambitions, with a specific desire to enter the Singapore market.

Robinhood, Eyeing Global Expansion, to Acquire Crypto Exchange Bitstamp

The acquisition of Bitstamp is a significant development for Robinhood. It represents a major step forward in the company’s goal of becoming a leading player in the cryptocurrency market

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“Part of the reason why Bitstamp was attractive was because of their licenses with Singapore, in addition to its institutional business,” Kerbrat told Bloomberg.

Bitstamp received in-principle approval from the Monetary Authority of Singapore (MAS), ahead of its acquisition, priming it for regulatory compliance. The exchange already holds regulatory licenses and registrations across several European Union countries, including Italy, Spain, the Netherlands, and France,

Crypto Exchange Bitstamp Wins Conditional Approval from Singapore Regulator

Bitstamp’s achievement of in-principle approval in Singapore, as the first crypto exchange with a major presence in the EU to do so, is expected to facilitate greater collaboration between the two jurisdictions.

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Kerbrat said Robinhood’s crypto launch in Singapore is expected to follow a few months after the Bitstamp deal is finalized, which is projected to close in the first half of 2025, pending regulatory approval.

In October, Robinhood Crypto, the trading platform's crypto arm, announced it will be introducing crypto transfers for its customers in Europe.

Robinhood Launches Crypto Transfers in Europe

Robinhood Crypto launched in Europe in December 2023 but will now allow customers to withdraw crypto to a self-custodial wallet or third-party platform

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Robinhood launched its crypto trading service in the EU in December 2023 but it did not allow users to move their cryptocurrencies from the platform to a self-custodial wallets or third-party platforms.