Robinhood Plans to Launch Crypto Products in Singapore This Year
Robinhood plans to launch crypto products in Singapore this year, pending the completion of its acquisition of Bitstamp for $200 million. The acquisition is expected to close in the first half of the year.
- Johann Kerbrat, Robinhood Crypto's VP, stated that Bitstamp's licenses in Singapore were a significant factor in the acquisition.
- Bitstamp received an in-principle license from the Monetary Authority of Singapore last year, allowing it to pursue a Major Payment Institution license.
- Robinhood aims to establish Singapore as its base for expansion into Asia.
Neither company provided comments prior to publication.