Robinhood is preparing to launch cryptocurrency trading in Singapore through its newly acquired Bitstamp subsidiary, according to a Bloomberg report on Feb. 18. The popular online brokerage has yet to finalize a launch date but is targeting late 2025 for its expansion.

Johann Kerbrat, vice president and general manager of Robinhood Crypto, revealed that Bitstamp’s regulatory approvals in Singapore played a key role in the acquisition. Last June, Robinhood agreed to buy the crypto exchange in a $200 million deal, aiming to expand its services to institutional investors beyond the U.S. Bitstamp secured in-principle approval from the Monetary Authority of Singapore in 2023, with the acquisition expected to close later this year, pending regulatory clearance.

Meanwhile, Robinhood is witnessing an explosion in retail interest in memecoins, even amid market controversies. The hype intensified after former U.S. President Donald Trump’s advisory team launched the Official Trump (TRUMP) memecoin on Jan. 18, just ahead of his planned inauguration. Despite the fallout from "Libragate"—a scandalous memecoin collapse that wiped out $4 billion in value—demand remains strong. Crypto giants Binance.US and Coinbase have aggressively expanded their memecoin listings following Trump’s November election victory.

Kerbrat emphasized that Robinhood does not dictate market trends but responds to user demand. “If customers want something and we can offer it safely, we will,” he said.

Robinhood’s crypto business is booming. In Q4 2024, the company’s crypto revenue hit $358 million, making up over half of its $672 million in transaction-based revenues. Crypto trading volumes skyrocketed 450% year-over-year to $71 billion, while assets under custody surged 75% quarter-on-quarter to $35 billion. Trump’s election win and rising market optimism continue to fuel retail and institutional crypto activity.