Largest acquisition to date
Online broker Robinhood buys crypto exchange Bitstamp
A big bang in the fintech world: online broker Robinhood wants to strengthen its market position in cryptocurrency trading - i.e. Bitcoin & Co - with the largest acquisition in the company's history.
The online broker announced on Thursday that it would take over the cryptocurrency exchange Bitstamp, which is popular in Europe and Asia, for 200 million dollars (184 million euros) in cash.
The booming cyber currency business recently brought Robinhood record quarterly sales. The US company's shares rose by almost three percent on Wall Street following the announcement of the deal.
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