Robinhood to Introduce Crypto Services in Singapore by 2025
Robinhood plans to expand its cryptocurrency offerings into Singapore by 2025 through its recent acquisition of Bitstamp for $200 million in June 2024.
This move is a key part of the company’s strategy to enhance its presence in the Asia-Pacific market and tap into Singapore’s growing prominence as a hub for digital assets.
The company aims to roll out its crypto services in Singapore with full regulatory approval by late 2025, though the exact timeline remains to be finalized. According to Johann Kerbrat, Robinhood’s VP of Crypto, Singapore’s crypto-friendly environment, bolstered by its progressive regulations, makes it an attractive market for the company’s expansion.
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The acquisition of Bitstamp, which holds an established license in Singapore, was a strategic decision for Robinhood. This license ensures smoother regulatory navigation as the company prepares to enter the market. Bitstamp’s approval from the Monetary Authority of Singapore has already set the stage for Robinhood to offer its crypto services.
Robinhood also has broader plans beyond Singapore. The Bitstamp deal is expected to finalize by mid-2025, followed by the launch of Robinhood’s crypto products. Bitstamp’s existing licenses across several European Union nations like Italy, Spain, and France, along with Robinhood’s intention to secure brokerage licenses in the Asia-Pacific region, highlights its ambition to expand further in the digital asset space.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
