• Robinhood Markets is considering offering cryptocurrency futures in the U.S. and Europe in the coming months
• The company plans to use the licenses of crypto exchange Bitstamp, which it agreed to buy for $200 million, once the transaction closes next year
• Robinhood aims to launch CME-based futures in the U.S. for Bitcoin and Ether
Robinhood Markets is considering offering cryptocurrency futures in the U.S. and Europe in the coming months, according to a Bloomberg News report on Tuesday. The commission-free trading app aims to use licenses from crypto exchange Bitstamp, which it agreed to acquire last month.
Robinhood’s Plan to Offer Crypto Futures
The company hopes to utilize Bitstamp’s licenses once the $200 million transaction closes next year, the report said. Robinhood also wants to launch CME-based futures in the U.S. for Bitcoin and Ether.
“We have no imminent plans to launch these offerings,” a Robinhood spokesperson said in a statement.
Regulatory Hurdles Facing Robinhood Crypto
Robinhood’s crypto business is rapidly growing but facing regulatory challenges in the U.S. Robinhood Crypto drove a huge first quarter earnings beat in May. However, that same week Robinhood disclosed it received a Wells notice from the U.S. securities regulator over tokens traded on its platform. The notice signals the regulator intends to take enforcement action.
Conclusion
Robinhood is considering major moves in the crypto futures space while navigating regulatory oversight of its existing crypto offerings. The company’s plans remain fluid but highlight Robinhood’s ambition in the crypto sector amid fast growth and scrutiny.
