Robinhood-backed Bitstamp Announces Listing of XDC Network Token Month After Acquisition

Bitstamp, a major player in the European cryptocurrency market, has strategically announced the listing of the XDC Network token XDC against fiats USD and EUR. This strategic move, coming just a month after Robinhood acquired Bitstamp for $200 million, suggests a carefully planned listing.

The acquisition of Bitstamp by Robinhood, a leading U.S.-based financial services company, was a significant event in the cryptocurrency industry, marking the entry of a major player into the European market.

Bitstamp, veteran crypto exchange, shares details of XDC listing

According to an official announcement shared by Bitstamp, a cryptocurrency exchange recently acquired by Robinhood, the XDC token, an asset of XDC Network, made it to the list of assets supported in the crypto-to-fiat module.

The reason behind the listing of the XDC token on Bitstamp is one of the swift moves Robinhood is taking toward increasing its involvement in tokens with real utility within the global cryptocurrency sector.

The acquisition of Bitstamp was finalized hardly a month ago, but adding XDC Network was a quick and decisive action — it is consistent with Robinhood's intention to utilize the well-established platform of Bitstamp to bring new and attractive 21st-century assets to wider audiences.

Deutsche Telekom recently Joined RWA-Focused XDC as an Infrastructure Provider, while Mercado Bitcoin (MB) launched a pilot project to enable trading of fixed-income RWA (real-world asset) tokens backed by Brazilian corporate debt securities on the international market.

XDC Network is supported by BlackRock-backed Securitize for tokenization, along with three other public blockchains: Ethereum, Polygon and Avalanche. XDC Network established a joint unit with Japan's SBI Group, SBI XDC Network APAC, to develop and deploy innovative solutions provided by XDC Network. They have completed the Interbusiness Settlement PoC (proof of concept) with R3 Corda, which brings more real-world utility to the network.

Robinhood bets big on crypto in Europe

The exposure is expected to benefit significantly from XDC Network, which has an energy-efficient blockchain infrastructure for trade finance and global payments. With their user base and reputation for reliability, XDC tokens are expected to attract a whole new class of investors interested in real-life applications of blockchain technology.

For Robinhood, this move underscores the company's broader strategy of diversifying its crypto offerings and solidifying its position as a leading player in the European market. The acquisition of Bitstamp, one of Europe's oldest and most trusted crypto exchanges, was seen as a bold move by Robinhood to expand its footprint in the region. Now, with the XDC token listing, it is clear that Robinhood is wasting no time capitalizing on this acquisition.

The European cryptocurrency market is on the brink of a new dawn, so industry insiders are keenly following this development. The token's successful listing on Bitstamp is a milestone and a potential trigger for possible expansions that may bring more advanced digital assets to Europe through the company's platform.

The fiat XDC/USD and XDC/EUR pairs are live on Bitstamp, providing an easy option to acquire XDC tokens. In addition to the European region, multiple tier 1 and tier 2 exchanges provide support for acquiring XDC tokens.