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Robinhood Markets is preparing to introduce cryptocurrency services in Singapore next year through Bitstamp, the European digital-assets exchange it acquired in 2024, Bloomberg reported.
The company aims to roll out the offerings by late 2025, subject to regulatory approvals.
Robinhood’s US$200 million acquisition of Bitstamp was partly driven by its ambition to expand in Singapore, leveraging the exchange’s regulatory approvals and institutional business.
Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, said the company expects its Singapore crypto services to launch a few months after the Bitstamp deal closes, which is slated for the first half of this year pending regulatory clearance.
Bitstamp secured in-principle approval from the Monetary Authority of Singapore last year, allowing Robinhood to leverage its regulatory footing for its expansion.
The exchange also holds various licenses across the European Union, including in Italy, Spain, the Netherlands, and France.
The move aligns with Robinhood’s broader expansion strategy in Asia, with Singapore set to serve as its regional headquarters.
Singapore has positioned itself as a key hub for digital assets in the Asia-Pacific region, attracting global firms through a structured regulatory framework and tokenization initiatives.
In December, Robinhood outlined plans to introduce trading services in Asia by 2025 and is pursuing brokerage licenses to support its growth.
It has already introduced crypto trading in Europe and US equity options trading for UK customers.
Robinhood has been actively expanding its crypto business, partnering with firms including Kraken and Galaxy Digital to develop a stablecoin, USDG, which is set to be issued by Paxos in Singapore.
The company’s revenue surged, reflecting increased crypto trading activity amid broader market gains in digital assets.
In the fourth quarter of 2024, Robinhood’s revenue more than doubled to US$1 billion, surpassing Wall Street estimates of US$940.8 million.
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