- Robinhood’s acquisition of Bitstamp enables its crypto expansion into Singapore, leveraging the exchange’s regulatory licenses for local operations.
- Singapore’s increasing digital asset regulation and crypto adoption make it an attractive destination for global cryptocurrency firms.
- Robinhood’s crypto earnings surged in 2024, with analysts predicting further growth as digital asset trading gains traction globally.
Robinhood has announced its plan to introduce cryptocurrency services in Singapore by late 2025. After acquiring European digital-assets exchange Bitstamp Ltd the company decided to expand into the Singapore market. The company pursues this expansion because it serves its ongoing objective to build operations in the Asia-Pacific region.
The company operates under Singaporean regulatory guidance to fulfill requirements before it can launch its services.
Bitstamp Acquisition Strengthens Market Position
Robinhood’s acquisition of Bitstamp for $200 million in June 2024 plays a critical role in its expansion. The regulatory licenses of Bitstamp will become available to Robinhood after their agreement reaches completion in the first half of 2025.
The exchange obtained MAS’s essential permission to operate in Singapore in March 2024. After regulatory approval, Robinhood intends to enter the same crypto services market as existing leading providers in the country.
The Asia-Pacific sector considers Singapore as its leading digital asset center. The 2024 government reforms brought international cryptocurrency firms Coinbase, Crypto.com, and Ripple to the market. The MAS issued 13 Major Payment Institution (MPI) licenses which raised the total number of approved digital asset licenses in 2024. The active approach of Singaporean financial regulators attracts businesses from global financial technology industries.
Robinhood’s Broader Expansion Strategy
Across Singapore Robinhood continues its worldwide business expansion. The company introduced crypto trading in Europe during late 2023 while the UK received access to US equity options trading in early 2024. The company seeks Asian brokerage licenses to access the expanding digital finance sector in the region.
The crypto business operated by Robinhood has grown rapidly since digital asset investments rose significantly. In its fourth quarter of 2024 earnings report the company generated more than $1 billion in revenue which exceeded Wall Street projections of $900 million. Analysts predict better market performance for Robinhood as cryptocurrency market prices stay at their current height thus reinforcing its overall position.
The limited number of tokens available on Robinhood does not hinder its market penetration because the platform maintains steady growth of market share. Trading volumes at the platform have increased for equities as well as options while cryptocurrency trading shows positive movement.
The way investors are moving toward active trading choices indicates a pattern shift within the investing landscape where new traders enter the market.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
