Robinhood plans to launch Crypto products in Singapore this year.
According to a Bloomberg ReportJohan Kerbrate, vice -president and general manager of Robinhood Crypto, revealed that the company has yet to decide the official launch date. However, the firm aims to roll its crypto services to Singapore users under local rules by the end of 2025.
Carbrate said the firm’s crypto products would be introduced through the European Crypto Exchange, Bitstamp. Robinhood acquired the bitstamp in a $ 200 million deal in June 2024. He explained that one of the reasons for the acquisition of Robinhood Bitstamp was due to his Singapore license.
The Bitstamp received a one-head approval from the monetary authority of Singapore last year. The exchange will serve as an entrance to Robinhood to expand its services in the Singapore market under the guidance of local regulators.
According to Carbrate, Robinhood is expected to discontinue the bitstamp acquisition deal in the first half of this year, after regulatory approval. Once signed the deal, Robinhood’s crypto products are expected to arrive in Singapore a few months after the launch.
In December 2024, Robinhood announced that it plans to expand its business business in Asia in 2025. The firm will start its Asian expansion by setting up its main office in Singapore. Additionally, Robinhood aims to secure the license as part of its expansion efforts in other parts of Asia.
At the end of 2023, Robinhood began its European expansion by introducing features for users throughout the region. In February in February, the firm also started offering American equity option trading for UK customers. But it recently launched its crypto services in Spain in January 2025.
In the same month, Robinhood agreed to pay a disposal of $ 45 million with the United States’s Securities and Exchange Commission when the government agency claimed that the firm’s broker-dealers institutions from 10 of the security law provisions. Created more violations.
