Robinhood is preparing to launch cryptocurrency trading services in Singapore through Bitstamp, the exchange it acquired in 2024. While a specific launch date has not been announced, the rollout is expected to begin by late 2025. The decision to expand into Singapore is largely influenced by Bitstamp’s existing regulatory approvals in the country, which Robinhood sees as a strategic advantage for its institutional crypto business.
The acquisition of Bitstamp, valued at $200 million, aligns with Robinhood’s broader goal of strengthening its global crypto presence. Bitstamp has already received in-principle approval from Singapore’s financial authorities, making it a key component of Robinhood’s expansion plans. The finalization of the acquisition is still subject to regulatory clearance, which is anticipated later this year.
In addition to its expansion plans, Robinhood has reported a surge in customer interest in memecoins, despite recent market turmoil. The launch of politically themed tokens, such as the Official Trump (TRUMP) memecoin, has contributed to increased retail participation. Crypto exchanges, including Binance.US and Coinbase, have been expanding their memecoin listings, reflecting a broader trend in the market.
Robinhood’s crypto business has experienced substantial growth, with Q4 2024 revenues reaching $358 million, accounting for more than half of its total transaction-based revenue. The company’s crypto trading volumes soared by over 450% year-over-year, driven by rising market prices and heightened retail engagement. With its Singapore expansion and a growing focus on digital assets, Robinhood aims to solidify its position in the evolving crypto landscape.
