Robinhood has announced plans to make encryption offers in Singapore by 2025, after its acquisition of ASIA-Pacific Exchang Ltd. It plans to launch services under the supervision of local financial organizers.
In a conversation interview With Bloomberg, Johann Kerbrat, Vice President of Robinhood and General Manager of Robinhood Crypto, confirmed that it is expected to start starting by late 2025.
Bitstamp to help Robinhood to expand access to Asia
Kerbrat admitted that the Bitstamp acquisition for $ 200 million in June 2024, which is scheduled to be completed this year, is the most important step in the RobinHood strategy to benefit from the Asian market. According to Services In the judicial state.
In March 2024, the exchange of encryption in Luxembourg received the approval of the principle of the Monetary Authority in Singapore (MAS). Robinhood is now planning to use the operating license to join the 30 main encryption services platforms that MAS highlighted digital symbolic payment services.
“Part of the reason that Bitstamp was attractive because of their licenses with Singapore, as well as its institutional work,Notice the Kirbrat.
Robinhood Crypto GM added that the launch of the company’s encryption services in Singapore should follow him shortly after the closure of the BitStamp deal, which is expected to occur in the first half of 2025, pending the final organizational approval.
Continuing expansion The encryption market in Singapore
In 2024, the Singapore government has made several reforms to make the country one of the largest centers for digital assets in the Asia Pacific region. The Republic drew many international operators, including Coinbase, Crypto.com and Ripple, with its clear organizational initiatives and the distinctive symbol.
Moreover, last year, the Monetary Authority in Singapore (MAS) increased significantly from the number of licenses of digital assets issued, grant 13 Main Payment Corporation Licenses (MPI) for encryption exchanges, more than twice the number issued in 2023.
According to Moloco Sanu, co -founder and CEO of Mansa, the clear organizational position in Singapore will continue to help the nation attract the best companies and talents, and may go beyond the competing Chinese judicial jurisdiction, Hong Kong.
“Through its clear regulations and its support for innovation, Singapore attracts the best companies and talents, which enhances a prosperous environmental system. This pre -emptive approach indicates a strong commitment to digital financing, in contrast to the most cautious Hong Kong positionSanoh wrote.
Statista analysts Predispay More than 55 % of the 5.8 million Singapore citizens will become encryption users by the end of 2025.
Global encryption market aspirations in Robinhood
In addition to launching encryption services, Robinhood plans to secure brokerage licenses in the region, which is part of its greatest effort to take advantage of the growing demand for digital financing in Asia.
For every December Bloomberg a reportThe company has already started expanding its scope outside the United States, after it launched the trading of encryption in Europe in late 2023. Robinhood also started providing stock options to UK customers in February 2024.
The momentum has been behind the encryption in Robinhood in recent months, supported by the total boom in the digital asset market. In the fourth quarter of 2024, Robinhood stated that it was more than Doubling Its profits to $ 1 billion, bypassing Wall Street’s expectations of $ 900 million.
According to Bernstein’s analysts, the Robinhood markets will flourish if the momentum in encryption prices repeats the rally at the end of 2014, which may lead to standard trading volumes.
Analysts pointed out that “Robinhood is our best idea for 2025”, expecting that the market share for the platform can expand more with the prosperity of the sector.
Although it is currently presenting fewer distinctive symbols of its competitors, such as Coinbase, Robinhood has increased its share in the market steadily. Paul Marino, chief revenue in Turnes ETFS, pointed to the trading volumes on the platform across stocks and options, along with Crypto, all of which rose in the fourth quarter of 2024.
“It is difficult to predict the end of the growth of transaction revenues, but perhaps the long historical investment base has retired for purchase and keeping children’s children,Marino He said Reuters, which indicates that the investor’s behavior in the coming months will witness that young generations adopt more active trading strategies.
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