Robinhood has announced plans to introduce its crypto offerings in Singapore by 2025, following its acquisition of the European digital-assets exchange Bitstamp Ltd. The move will see the California-based financial entity move further into the Asia-Pacific (APAC) region, with plans to launch the services under the guidance of local financial regulators.
In a recent interview with Bloomberg, Johann Kerbrat, Robinhood’s Vice President and General Manager of Robinhood Crypto, confirmed the rollout is expected to occur by late 2025.
Bitstamp acquisition to help Robinhood expand reach to Asia
Kerbrat acknowledged the acquisition of Bitstamp for $200 million in June 2024, which is set to be finalized this year, is the most important step in Robinhood’s strategy to tap into the Asian market. According to the VP, the deal was attractive in part because of Bitstamp’s licenses in Singapore, which will allow Robinhood to offer its crypto-affiliated services in the jurisdiction.
In March 2024, the Luxembourg-based crypto exchange received in-principle approval from the Monetary Authority of Singapore (MAS). Robinhood now plans to use the operational license to join the 30 major crypto services platforms the MAS has greenlighted for digital token payment services.
“Part of the reason why Bitstamp was attractive was because of their licenses with Singapore, in addition to its institutional business,” Kerbrat noted.
The Robinhood crypto GM added that the company’s crypto services launch in Singapore should follow shortly after the Bitstamp deal closes, which is anticipated to happen in the first half of 2025, pending final regulatory approval.
Continued expansion of Singapore’s crypto market
In 2024, the Singapore government made several reforms to make the country one of the biggest hubs for digital assets in the Asia-Pacific region. The republic has drawn several international operators, including Coinbase, Crypto.com, and Ripple, with its clear regulatory regime and tokenization initiatives.
Moreover, last year, the Monetary Authority of Singapore (MAS) significantly increased the number of digital-asset licenses issued, granting 13 Major Payment Institution (MPI) Licenses to crypto exchanges, more than double the number issued in 2023.
According to Mouloukou Sanoh, co-founder and CEO of MANSA, Singapore’s clear regulatory stance will continue helping the nation attract top companies and talent, and it may even go further than rival Chinese special jurisdiction, Hong Kong.
“With its clear regulations and support for innovation, Singapore attracts top companies and talent, fostering a thriving ecosystem. This proactive approach signals a strong commitment to digital finance, contrasting with Hong Kong’s more cautious stance,” Sanoh wrote.
Statista analysts predict more than 55% of Singapore’s 5.8 million citizens will become crypto users by the end of 2025.
Robinhood’s global crypto market ambitions
In addition to launching crypto services, Robinhood plans to secure brokerage licenses in the region, part of its larger effort to tap into the growing demand for digital finance in Asia.
Per a December Bloomberg report, the company has already begun expanding its footprint outside the United States, having launched crypto trading in Europe in late 2023. Robinhood also started offering US equity options trading for UK customers in February 2024.
The momentum behind Robinhood’s crypto business has been growing in recent months, buoyed by the overall boom in the digital asset market. In the fourth quarter of 2024, Robinhood reported it had more than doubled its earnings to clock $1 billion, surpassing Wall Street’s $900 million forecast.
According to Bernstein analysts, Robinhood Markets will thrive if the momentum in crypto prices replicates its end-2024 rally, which could lead to record trading volumes.
“Robinhood is our best idea for 2025,” the analysts noted, predicting that the platform’s market share could expand further as the sector thrives.
Despite currently offering fewer tokens than its competitors, such as Coinbase, Robinhood has been steadily increasing its market share. Paul Marino, Chief Revenue Officer at Themes ETFs, noted the platform’s trading volumes across equities, and options, alongside crypto, all surged in the fourth quarter of 2024.
“It’s hard to predict when the transaction revenue growth will end, but perhaps the long historical investment norm of buy and hold has retired with the baby boomers,” Marino told Reuters, suggesting investor behavior in the coming months will see younger generations embrace more active trading strategies.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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