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Fortune

Marco Quiroz-Gutierrez

Robinhood defies the SEC by forking over $200 million for a crypto exchange

SEC Robinhood Crypto Bitstamp United States Lawsuit Gary Gensler Bitcoin Robinhood Crypto

(Credit: Spencer Platt—Getty Images)

Robinhood plans to buy crypto exchange BitStamp to expand its crypto business internationally even as it faces increased scrutiny by regulators at home.

The financial services company said Thursday it would buy BitStamp for $200 million in cash to help it expand its crypto business worldwide. Founded in Slovenia in 2011, BitStamp has a major international presence with more than 50 active licenses to operate globally. Most of the company’s revenue comes from Europe.

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