Key takeout
- Robinhood is scheduled to launch cryptographic services in Singapore through BitStamp in late 2025.
- Bitstamp is generally approved by the financial authorities in Singapore.
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According to a report from Bloomberg on Tuesday, Robinhood is expanding its plans to launch services in Singapore through Bitstamp this year, winning the European exchange that was acquired in June 2024 in a $200 million transaction I'm making a plan.
The California-based brokerage is aiming to launch cryptographic products in Singapore in the second half of 2025. year, According to Johann Carblatt, who heads Robin Hood's crypto division. The company has not yet locked down the exact start date.
Singapore has competed with Hong Kong to become the dominant digital asset hub in the Asia-Pacific region, attracting global players in a dedicated regulatory framework. The purchase of Robinhood's Bitstamp was driven in part by the exchange licensing in Singapore.
In March 2024, Bitstamp was generally approved by the Singapore Financial Authority (MAS). This approval allows Exchange to provide digital payment token services in accordance with Singapore's Payment Services Act. Bitstamp also holds many licenses and registrations in European Union countries, including Italy, Spain, the Netherlands and France.
Robinhood, headquartered in Singapore, announced plans in December to set up a wide range of trading businesses in Asia.
The company is actively building its presence in the global crypto landscape. It began trading Crypto in Europe in late 2023 and in February it began trading US stock options for UK customers.
Last year, Robinhood announced strategic collaborations with Crypto companies such as Kraken and Galaxy Digital, launching USDG Stablecoin, published by Paxos.
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