Following its consolidation of German digital-assets change Coinbase in a$ 200 million deal completed in June 2024, trading app Robinhood Markets Inc. plans to launch its crypto companies in Singapore by the end of 2025.
After completing the acquisition of Bitstamp in the first quarter of 2025, Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, announced to that the company plans to launch its crypto service in Singapore.
The move will expand Robinhood’s appearance in the Asia-Pacific area, tapping into Singapore’s rising function as a electronic property hotspot.
According to CoinGecko data, Robinhood is entering the Asian market as the world’s blockchain space is at new highs, driven by a flurry of implementation and institutional investor interest, which will drive the company’s entry into the market.
Robinhood has not yet announced a start date, but Kerbrat claimed that the acquisition was largely due to Bitstamp’s Singapore licenses.
” Part of the reason why Bitstamp was attractive was because of their licenses with Singapore, in addition to its institutional business”, he said, citing the exchange’s in-principle approval from the Monetary Authority of Singapore ( MAS ) under the country’s Payment Services Act.
The country’s longest-running bitcoin change even holds certificates in several European nations, including Italy, Spain, the Netherlands, and France.
Robinhood is also aiming to expand more in Asia by acquiring trading licenses, which will allow the business to expand its income by adding classic financial products like equity trading to its suite of modern asset services.
The California-based trading system’s transition into Singapore is portion of its international development plan, which includes establishing its regional office in the city-state.
CEO Vlad Tenev stated that” We plan to get serving clients across Asia quickly” during the announcement that was made last December.
In the fourth quarter of 2024, the company’s crypto business reported a 700 % increase in crypto trading revenue. The surge in revenue was part of Robinhood’s overall success, with the company surpassing Wall Street’s expectations and posting total revenue of over$ 1 billion for the quarter.
Crypto buying accounted for over a fourth of the company’s transaction-based income, pointing to the rising importance of crypto in Robinhood’s base line.
Robinhood’s stock rose by 2.32 % on Tuesday, trading at$ 65.23, according to Google Finance data.
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