Robinhood subsidiary Bitstamp has likely completed its regulatory portfolio for Europe by obtaining the MiCA licence. In autumn 2024, the oldest European crypto exchange had already received a Mifid licence to operate a multilateral trading facility (MTF), which also enables the trading of crypto derivatives. The combination of spot and futures contracts is particularly important for professional investors, as it allows hedging to be carried out from a single source.

Bitstamp has received authorisation as a Crypto Asset Service Provider (CASP) from the Luxembourg supervisory authority CSSF (Commission de Surveillance du Secteur Financier). „MiCA provides a regulatory foundation that creates investor confidence. Our authorisation underlines our commitment to security and quality,“ said Jean-Baptiste Graftieaux, Global CEO of Bitstamp, in a statement. Before the licence was granted, enhancements to the stablecoin offering were made in accordance with the regulations, he added.

According to the regulatory expert Patrick Hansen, who works for Circle, the Bitstamp licence has a special quality that not everyone has. This is because Bitstamp can operate its trading centre like a normal Mifid MTF, but for crypto assets. A multilateral order book could be maintained in which customer orders could be brought together directly, Hansen said on the X social media platform.

In addition to the MiCA and Mifid licences, the Luxembourg-based company would also have an EU payment authorisation and could therefore cover the entire value chain. It is important for crypto platforms to provide fully functional payment flows in order to enable customers to fill accounts/custody accounts and move assets with as little friction as possible.

Robinhood completed the Bitstamp acquisition in mid-2024 at an indicative valuation of around 200 million dollars. Bitstamp operates primarily from Luxembourg and London. Robinhood is likely to aim for an integrated expansion of its app in Europe, as the Americans recently received an EU-wide brokerage licence in Lithuania.

Robinhood CEO Vlad Tenev recently hinted in a YouTube interview with „Crypo in America“ that an offering of tokenised US shares for European investors is planned.