UK-based bitcoin exchange Bitstamp has passed an audit run by BitcoinJ developer and former Google engineer Mike Hearn.
With its acquisition, Robinhood is looking to leverage the company’s operational license to enter the Asian market.
Bitstamp secures MiFID II license to offer regulated perpetual swap trading in Europe, positioning itself as one of few crypto exchanges authorized for these products in the EU.
StraitsX believes that with its transparency and stability, XSGD can compete with major players such as USDT and USDC, offering users more reliable options for cross-border payments.
The partnership between StraitsX and Bitstamp means users can now seamlessly send and receive the SGD-backed stablecoin across borders with confidence.
Bitstamp’s expansion to Australia targets the institutional crypto market gap left by the limited operations of competitors like Binance and Kraken.
Bitstamp executive noted that the Ethereum ETFs were launched in July 2024 during a period of uncertainty in risk assets, unlike the January launch of Bitcoin ETFs.
This is not Robinhood’s first encounter with regulatory scrutiny. In May, the US Securities and Exchange Commission (SEC) notified Robinhood of its intent to file a lawsuit over alleged violations of federal securities laws.
The partnership between Stripe and Bitstamp will initially support Bitcoin, Ethereum, Solana, XLM, and USDC.
XRP price has been retesting the weekly bullish breakout from the 2022 bear market in the past twelve months, and could possibly continue until the fourth quarter of 2024.
In less than a month’s time, the German government has liquidated nearly 37,000 Bitcoins from its holdings. The govt. has transferred 375 Bitcoin each, to crypto exchanges Bitstamp, Coinbase, and Kraken.
Analytics platform Spot On Chain earlier speculated about a potential shift towards OTC sales for the German government’s Bitcoin dump.
The German Federal Criminal Police Office (BKA) sent another 100 BTC ($6.2 million) to Coinbase, 150 BTC ($9.4 million) to Bitstamp, and 32.74 BTC ($2 million) to Kraken on July 2, according to Arkham.
The latest acquisition is part of Robinhood’s strategy to expand its product offering into crypto and mature into a full-fledged financial service provider.
Apart from Malta, OKX has encountered regulatory troubles in other countries. The exchange is facing regulatory hurdles in India and has asked users to stop trading margins, perpetuals, and futures options.
An in-principle approval is a preliminary nod that the MAS issues to firms applying for the major payment institution (MPI) license.