Robinhood To Expands Crypto Offerings In Singapore In Push For Global Growth

Robinhood Markets Inc HOOD plans to introduce Singapore crypto offerings in 2025 through an entity of Bitstamp Ltd subsidiary.

The company plans to roll out the services as per regulatory guidance by 2025, Bloomberg cites from an interview with Robinhood Crypto vice president and general manager Johann Kerbrat, vice president and general manager on Tuesday.

Robinhood snapped European digital-assets exchange Bitstamp for $200 million in June 2024 to tap its licenses with Singapore and institutional business, Bloomberg cites Kerbrat.

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Kerbrat expects Robinhood’s crypto products to launch in Singapore shortly after the Bitstamp deal closes in the first half of 2025. Singapore has emerged as Asia-Pacific’s digital assets industry hub.

Last December, Robinhood shared plans to launch its trading businesses in Asia in 2025, tapping Singapore as its home base akin to the geographical diversification of Futu Holdings FUTU.

Robinhood plans to win brokerage licenses in Singapore. Bitstamp also holds licenses and registrations in European Union countries.

Robinhood Markets stock surged 343% in the last 12 months as its business gained traction fueled by a digital-asset market rally sparked by President Donald Trump’s pro-crypto agenda.

In the fourth quarter of 2024, Robinhood’s revenue more than doubled to $1 billion, beating Street analyst estimates of $940.8 million. EPS of $1.01 topped Street estimates of 42 cents. Transaction-based revenue reached $672 million, up over 200%. Equities revenue was up 144%, options revenue climbed 83%, and crypto revenue soared over 700%.

Bernstein named Robinhood as the best idea for 2025, citing the fourth-quarter performance marking a turning point, with total revenue reaching $1 billion for the first time.

The firm backed its thesis by citing the continued bull market in cryptocurrency, which is supported by a more favorable regulatory environment and increasing institutional adoption of Bitcoin.

The firm expects Robinhood’s additional crypto offerings to drive revenues up by 30%. Bernstein also highlighted the company’s take-rate expansion, Bitstamp acquisition, and geographical diversification.

Last September, Singapore’s DBS launched over-the-counter (OTC) cryptocurrency options trading and structured notes, becoming the first Asian-headquartered bank to offer financial products tied to Bitcoin and Ethereum ETH/USD.

Price Action: HOOD stock is down 7.95% at $60.09 at last check Tuesday.

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