ROBINHOOD Markets plans to launch Singapore crypto offerings in 2025 through an entity of European digital-assets exchange Bitstamp, which it recently acquired.
The company intends to roll out the services with guidance from local regulators by late 2025, although it has not yet set a launch date, said Johann Kerbrat, vice-president and general manager of Robinhood Crypto, in an interview with Bloomberg News.
Singapore has fashioned itself as a hub for the digital-assets industry in the Asia-Pacific region, vying with the likes of Hong Kong to lure global operators with a dedicated regulatory regime and tokenization initiatives. Robinhood bought Bitstamp for US$200 million in June 2024, in part to pave the way for expanding into Singapore.
“Part of the reason why Bitstamp was attractive was because of their licences with Singapore, in addition to its institutional business,” Kerbrat said. Bitstamp said last year that it had received an in-principle approval from the Monetary Authority of Singapore.
Kerbrat added that the launch of Robinhood’s crypto products in Singapore should come a few months after the Bitstamp deal closes, which is expected to happen in the first half of this year pending regulatory approval.
In addition to Singapore, Bitstamp holds licences and registrations in European Union countries including Italy, Spain, the Netherlands and France, according to its website.
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Robinhood in December announced plans to launch its wider trading businesses in Asia in 2025, tapping Singapore as its home base. The Menlo Park, California-based company’s foray into Asia comes as competitors including China’s Tiger Brokers and Futu Holdings are expanding internationally.
Robinhood plans to secure brokerage licences in the region as part of its expansion efforts. It launched crypto trading in Europe in late 2023 and US equity options trading for UK customers in February.
Last year, Robinhood partnered with crypto companies including Kraken and Galaxy Digital to launch a stablecoin called USDG, set to be issued by Paxos out of Singapore.
The business has been booming amid a digital-asset market rally sparked by US President Donald Trump’s pro-crypto agenda. In the fourth quarter of 2024, Robinhood’s revenue more than doubled to US$1 billion, beating Wall Street analyst estimates of US$940.8 million. BLOOMBERG
