Robinhood to Launch Crypto Services in Singapore by 2025

Robinhood Markets Inc. is readying to widen its crypto services successful Singapore aboriginal this year. According to Bloomberg’s report, the U.S.-based fiscal level intends to participate the Singapore marketplace done a caller entity connected to Bitstamp, a European integer assets speech that it acquired for $200 cardinal successful June 2024. 

The institution wants to commencement this work aft it finalizes the acquisition of Bitstamp successful the archetypal fractional of 2025, pending regulatory approval.

Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, said that Bitstamp’s licenses successful Singapore were 1 of the reasons it decided to bargain the company 

“Part of the crushed wherefore Bitstamp was charismatic was due to the fact that of their licenses with Singapore, successful summation to its organization business,” Kerbrat explained successful an interrogation with Bloomberg.

Meanwhile, Singapore has emerged arsenic a large halfway for integer assets. The state is attracting crypto firms that are looking to run successful a affable regulatory environment.

Right now, it is competing with Hong Kong, which is besides different hub for crypto and blockchain business. 

Robinhood wants to grow to Singapore to instrumentality vantage of the increasing request for cryptocurrencies successful Asia. The institution is besides expanding to different parts of the globe, having started trading successful crypto successful Europe successful 2023. It started offering equity options trading for customers successful the UK aboriginal this year, 2025. 

Robinhood’s acquisition of Bitstamp enables it to beryllium licensed successful galore European nations specified arsenic Italy, Spain, and France. Through this, Robinhood is successful a presumption to supply its services successful further locations and not lone successful Singapore. The steadfast seeks to springiness a afloat scope of fiscal products, including accepted arsenic good arsenic integer assets.

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