02:35 PM EST, 02/18/2025 (MT Newswires) -- Robinhood Markets ( HOOD ) plans to introduce cryptocurrency offerings in Singapore later this year, Bloomberg reported Tuesday, citing a company executive.

Johann Kerbrat, vice president and general manager of Robinhood Crypto, said in an interview with Bloomberg that the service will be launched through an entity of European digital-assets exchange Bitstamp, which Robinhood Markets ( HOOD ) bought in June 2024 for $200 million.

Kerbrat said the Bitstamp deal, which is awaiting regulatory approval, is expected to close in H1.

HOOD shares were down almost 8% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 60.12, Change: -5.16, Percent Change: -7.91