US-based brokerage firm Robinhood has officially acquired Luxembourg-headquartered crypto exchange Bitstamp. In an announcement posted on June 2, Robinhood said that it paid $200 million (roughly Rs. 1,709 crore) in cash to complete this acquisition. With this, Robinhood has now added over 50 licences held by Bitstamp to its own network. Johann Kerbrat, the general manager of Robinhood Crypto had first spoken about the plan to acquire Bitstamp last year during an interview with the Wall Street Journal.Bitstamp was founded in 2011 and is touted as the longest running crypto exchange in the world. Its offices are located in Singapore, Slovenia, the UK, as well as the US. Robinhood plans to use Bitstamp's resources to bring service offerings to institutional investors, Vlad Tenev, the CEO and co-founder of Robinhood, indicated on X."Bitstamp is now part of Robinhood, adding a globally-scaled crypto exchange and our first-ever institutional crypto business. Our work is just beginning," Tenev posted.Following the announcement, Bitstamp changed its name to "Bitstamp by Robinhood" on various online platforms including X.In an official blog post, Bitstamp said that it "has been trusted for 14 years by institutions for its reliable trade execution, deep order books and industry-leading API connectivity and offerings like crypto-as-a-service, institutional lending, and staking. Robinhood is entering the space with an active and highly trusted business with established relationships."Key Highlights on the AcquisitionRobinhood published some important details about Bitstamp and its acquisition for its investor community on June 2.The American firm disclosed that Bitstamp was catering to over 500,000 retail and around five thousand funded institutional customers as of April 30, 2025. Bitstamp's yearly revenue up till April 30 was clocked at $95 million (roughly Rs. 811 crore)."In 2025, for the remaining seven months of the year post close, Robinhood expects to record approximately $65 million (roughly Rs. 555 crore) of Bitstamp-related costs. These costs are nearly all Adjusted Operating Expenses and are primarily driven by business operations, along with some anticipated integration and deal-related costs," Robinhood's announcement post added.Robinhood will now integrate Bitstamp's infrastructure into its own services and offerings."Bringing Bitstamp's platform and expertise into Robinhood's ecosystem will give users an enhanced trading experience with a continuing commitment to compliance, security, and customer-centricity," JB Graftieaux, CEO of Bitstamp said as commenting on the development.Robinhood's crypto trading service had faced legal challenges with the US SEC last year on allegations of having violated the US Securities laws. However, following Donald Trump's return to the White House as the 47th US President, the SEC closed its investigation into Robinhood and did not take any action.(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)