Robinhood Markets Inc. is making plans to launch its services in Singapore by late 2025. This move follows the company’s recent acquisition of the European digital-assets exchange Bitstamp for a hefty $200 million, completed in June 2024.

In a conversation with Bloomberg, Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, shared that the company is eager to roll out its crypto offerings in Singapore after finalizing the Bitstamp acquisition in the first half of 2025. This expansion is part of Robinhood's broader strategy to enhance its presence in the Asia-Pacific region and capitalise on Singapore's emerging status as a digital assets hub.

The timing couldn't be better for Robinhood. The global cryptocurrency market has been booming, reaching a staggering $3.2 trillion by January 2025, driven by increased adoption and interest from institutional investors. Although Robinhood has not set a specific launch date yet, Kerbrat emphasized that Bitstamp's regulatory licenses in Singapore were a crucial factor in this acquisition.

He noted, "Part of the reason why Bitstamp was attractive was because of their licenses with Singapore, in addition to its institutional business," referring to the exchange's in-principle approval from the Monetary Authority of Singapore (MAS) under the Payment Services Act.

Bitstamp is not just a gateway into Singapore; it also holds licenses across several European countries, including Italy, Spain, the Netherlands, and France. This positions Robinhood to diversify its offerings beyond cryptocurrencies by acquiring brokerage licenses that would enable traditional financial products like equity trading.

Robinhood’s ambitious plans for Asia include establishing its regional headquarters in Singapore and expanding its trading services across the continent. The company's crypto business has already shown impressive growth, reporting a remarkable 700% increase in trading revenue during Q4 2024. This surge contributed to Robinhood surpassing Wall Street expectations with total revenue exceeding $1 billion for that quarter.

As Robinhood prepares for this next chapter, its stock has seen positive movement, rising by 2.32% on Tuesday to trade at $65.23. The venture into Singapore marks a pivotal moment for Robinhood as it seeks to solidify its position in the competitive Asian market and leverage its recent successes in the crypto sector.