Robinhood Eyes Singapore as a Key Crypto Market
Robinhood Markets Inc. is preparing to launch its cryptocurrency services in Singapore by late 2025. This move follows its acquisition of European crypto exchange Bitstamp in a $200 million deal completed in mid-2024.
Singapore, known for its favorable regulatory stance and thriving crypto ecosystem, represents a strategic entry point for Robinhood’s expansion into Asia. The company is setting up its regional headquarters in the city-state, reinforcing its long-term commitment to the region.
Bitstamp Licenses Provide Regulatory Advantage
Bitstamp’s existing licenses in Singapore played a significant role in Robinhood’s acquisition decision. The exchange holds in-principle approval from the Monetary Authority of Singapore (MAS) under the country’s Payment Services Act, providing Robinhood with a regulatory pathway to launch its services.
Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, emphasized that the company’s expansion aligns with the rising institutional and retail demand for digital assets in Asia.
Broader Expansion and Crypto’s Growing Role
Robinhood’s move into Singapore is part of a larger global expansion strategy. The company is also exploring brokerage licenses in Asia to offer a broader range of financial services, including equities trading.
Robinhood’s crypto division has seen explosive growth, with a 700% surge in crypto trading revenue in Q4 2024. This contributed significantly to the company’s total revenue, which surpassed $1 billion for the quarter.
As Robinhood integrates crypto further into its business model, the expansion into Singapore could solidify its presence as a major player in the global digital asset market.
