The newly launched layer-2 network will support the issuance of over 200 US stock and exchange-traded fund (ETF) tokens. This development aims to provide European investors with access to US assets. Robinhood made this announcement on Monday.

The brokerage firm’s stock tokens will be commission-free and will be accessible for trading round the clock, five days a week. Furthermore, Robinhood announced the initiation of perpetual futures in the EU, offering eligible traders the opportunity to access derivatives with up to three times leverage. These trades will be processed via Bitstamp, the cryptocurrency exchange recently bought by Robinhood for $200 million.

Other exchanges, such as Gemini, have previously extended tokenized shares to European investors. However, Robinhood continues to intensify its crypto push. Recently, it unveiled micro futures contracts for Bitcoin (BTC), XRP (XRP), and Solana (SOL), thus facilitating traders to access derivatives markets with significantly reduced capital requirements.

In addition to these developments, Robinhood has acquired Canadian crypto operator WonderFi for $179 million and is actively advocating for rational tokenization legislation in the United States. It has proposed a national framework for RWAs to the Securities and Exchange Commission, including plans to launch the Real World Asset Exchange, a platform designed for offchain trading with onchain settlement.

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Today, we’re discussing Robinhood’s successful acquisition of Bitstamp, a NASDAQ-listed company’s ambitious plan to raise $500 million for buying SOL, the introduction of Kraken Prime, and more.

Robinhood, the popular trading platform, has wrapped up its $200 million acquisition of Bitstamp, one of the oldest crypto exchanges in the world. This acquisition, which has been pending for a year, marks Robinhood’s first venture into institutional crypto services.

Bitstamp’s extensive customer base across the EU, UK, and Asia is now at Robinhood’s disposal as the platform looks to extend its reach beyond America’s borders. Bitstamp’s reputation and a repertoire of over 85 tradable assets, backed by more than 50 worldwide licenses, further strengthen Robinhood’s position.

In addition to this, Classover, an ed-tech company listed on NASDAQ, has unveiled plans to raise up to $500 million through convertible notes, with 80% of the proceeds directed towards buying SOL for its treasury. This move follows an earlier $400 million equity purchase agreement, taking Classover’s potential funding capacity for SOL accumulation to a whopping $900 million.

Furthermore, Kraken, a renowned name in the crypto industry, has rolled out Kraken Prime, a comprehensive prime brokerage for institutional clients. This new service offers clients access to crypto trading, custody, and financing all under one roof.

Lastly, the Ethereum Foundation has revamped its R&D division, now known simply as “Protocol,” and the Blockchain Group has acquired 624 BTC for $68.7 million, taking its total holdings to 1,471 BTC ($157 million).

Stay tuned for more updates from the fast-paced crypto world!

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The $200 million deal, which followed the terms agreed upon in June 2024, was fully paid in cash. Bitstamp boasts of a strong customer base consisting of over 5,000 institutional clients and 50,000 retail customers, with the bulk of its trading volume generated by its institutional clientele.

Robinhood, in an independent statement, highlighted that the Bitstamp acquisition has drastically expanded its crypto operations beyond the U.S. borders, reaching the European, UK, and Asian markets. Bitstamp recorded a revenue of $95 million in the year ending April 30, while Robinhood’s crypto department raked in $252 million in the first quarter of 2025 alone.

Having begun the integration of Bitstamp’s crypto platform, Robinhood has already connected it with Robinhood Legend and its Smart Exchange Routing service. The company anticipates incurring around $65 million in Bitstamp-related expenses over the rest of 2025.

Besides Bitstamp, Robinhood is set to acquire the Canadian cryptocurrency platform, WonderFi, for roughly $179 million. This decision is part of the company’s strategy to fortify its Canadian market presence. On the possibility of more crypto acquisitions, Robinhood Crypto’s general manager, Johann Kerbrat, stated that the firm is open to options that can fast-track their growth by at least 18 months to two years.

Robinhood’s CEO, Vladimir Tenev, is now focusing on broadening the company’s crypto offerings into the tokenization of real-world assets. According to Tenev, tokenizing private equities can be a game-changer for both individuals and companies, solving many issues related to secondary market transactions. He believes that this will unlock immense economic value for the crypto industry in the U.S.

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Subject to regulatory approval, Tenev sees enormous potential in tokenization, particularly as a tool for incorporating real-world assets like shares and private equity into blockchain technology, as per a video he posted on X.

Robinhood, according to Tenev, is uniquely situated at the crossroads of traditional finance and DeFi, providing a bridge between the two realms by leveraging additional liquidity and other blockchain benefits.

Since the election of crypto-friendly President Trump, Robinhood has expanded its crypto offerings to include seven new cryptocurrencies, such as Solana (SOL), Pepe (PEPE), Cardano (ADA), and XRP, in addition to Trump’s own official memecoin (TRUMP). Ethereum staking was also launched in the European Union.

With the departure of ex-Securities and Exchange Commission Chair Gary Gensler, who was known for his regulation-by-enforcement approach, and the introduction of a new crypto regulatory framework by the Trump administration, Tenev anticipates further crypto listings this year.

On Monday, it was announced that the SEC had completed its investigation into Robinhood’s Crypto platform, deciding not to pursue any enforcement action.

“We have always maintained that any action against Robinhood Crypto would not hold up,” said Dan Gallagher, Robinhood Markets Compliance and Corporate Affairs Officer. “We welcome the official conclusion of this investigation and the SEC’s commitment to fairness and the rule of law.”

Robinhood Crypto has notably refrained from providing certain products and services that were alleged to be securities by former SEC Chair Gensler, distinguishing itself from other platforms.

Robinhood plans to continue investing in its separate non-custodial Robinhood Wallet, which Tenev describes as a “gateway to thousands of additional coins for our customers.”

Lastly, Tenev aims to extend the “Robinhood Effect” to the institutional crypto market following the final acquisition of crypto exchange Bitstamp, leveraging its global reach in over 50 countries.

After a 400% increase in crypto trading volume, Robinhood reported record revenue of $1.01 billion for the fourth quarter. Following this, analysts at Bernstein more than doubled their price target for Robinhood’s stock to $105. Robinhood’s stock closed up 6.4% at $48.85 on Wednesday and is currently up 4.8% in pre-market trading on Thursday, according to TradingView.

Disclaimer: This article is purely informational and is not intended to be used as legal, tax, investment, financial, or other advice.

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In December 2020, the U.S. Securities and Exchange Commission (SEC) sued Ripple, along with the company’s CEO and chairman, for an illegal securities offering of XRP worth $1.3 billion. Since then, the SEC also amended its initial complaint to add accusations of XRP price manipulation. Earlier in March 2021, both the CEO and the chairman filed two separate motions to dismiss the lawsuit. In addition, more than 6,000 XRP supporters attempted to intervene in the proceedings, but their motion was declined.  

According to CoinTelegraph.com, a number of cryptocurrency exchanges delisted XRP or halted its trading after the announcement of the lawsuit. In particular, the source names such exchanges as Coinbase, Bitstamp, Binance.US, Bittrex, eToro, OKCoin, and more.

XRP is the seventh-largest cryptocurrency on CoinMarketCap.com, trading at around $0.574 at the time of writing.

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