Robinhood to Buy Crypto Exchange Bitstamp in Global Push (1)

Robinhood Markets Inc. will acquire the European cryptocurrency exchange Bitstamp Ltd. for $200 million as part of the financial-technology company’s expansion outside of its home market in the US.

The deal, which is expected to close in the first half of next year pending regulatory approval, is Robinhood’s first foray into the institutional business, according to a Thursday statement.

The transaction comes about a month after the US Securities and Exchange Commission warned Robinhood that it faces an enforcement action over its own crypto business. Robinhood, which is best known for stock trading, disclosed in May that the SEC’s ...