Robinhood Acquires Bitstamp for 200M Could XRP be Next on the List
Key Points
– Robinhood’s purchase of Bitstamp for $200 million has sparked excitement within the XRP community.
– There is hope that Bitstamp’s support for XRP could lead to its listing on Robinhood.
– Expectations are high for Ripple’s RLUSD stablecoin to be listed on Robinhood.
Robinhood Markets has revealed its intention to acquire Bitstamp, a well-known crypto exchange, for $200 million. This strategic decision is aimed at expanding Robinhood’s reach beyond the United States, especially in Europe and Asia, where Bitstamp has established a strong presence in the market.
The acquisition will strengthen Robinhood’s offerings by incorporating Bitstamp’s extensive crypto exchange services into its platform. This move is expected to benefit both individual and institutional clients across various regions.
The deal is projected to be finalized in the first half of 2025, pending approval from regulators and meeting standard closing requirements.
Excitement within the XRP Community
The XRP community is optimistic that this acquisition could result in Robinhood listing XRP for trading. Given Bitstamp’s robust support for the XRP Ledger and its issuance of stablecoins tied to currencies like USD, EUR, and GBP, this possibility seems feasible.
Despite a recent ruling affirming that XRP is not a security, Robinhood has yet to add XRP to its platform, leaving the community eager for a change.
Moreover, Bitstamp has already issued stablecoins on the XRP Ledger for various currencies such as USD, EUR, JPY, GBP, AUD, and CHF. With Robinhood now possessing the necessary technology to list XRPL issued tokens, the potential for XRP trading on Robinhood is promising.
Potential for Ripple’s Stablecoin
There is speculation that Robinhood may also consider listing Ripple’s upcoming RLUSD stablecoin. With Bitstamp holding numerous regulatory clearances, including over 50 active licenses and registrations worldwide, this could facilitate Robinhood’s continued and expanded XRP trading post-acquisition.
Vet, an XRPL dUNL Validator, highlighted that Robinhood will acquire the technical infrastructure required to list XRPL tokens from Bitstamp. As Bitstamp already supports XRP trading, a seamless continuation of this service on Robinhood is likely. The extensive regulatory coverage of Bitstamp further supports the potential listing of Ripple’s stablecoin on Robinhood.
Mixed Reactions
Despite the optimism, not everyone shares the same sentiment. Crypto researcher Mr. Huber expressed concerns that Robinhood might remove XRP from Bitstamp’s platform following the acquisition, causing uncertainty within the community.
The Future: Bright, Yet Unknown
While many view Robinhood’s acquisition of Bitstamp as a positive step towards potentially including XRP on its platform, some remain skeptical about the final outcome. The integration of Bitstamp’s capabilities could open up new trading opportunities, but the true impact remains uncertain.