Robinhood is reportedly considering offering cryptocurrency futures in the U.S. and Europe, but no official launch date has been announced yet.
Bloomberg News reported on Tuesday that Robinhood is considering offering cryptocurrency futures in the U.S. and Europe in the coming months.
The app for trading without commission aims to utilize the licenses of Bitstamp, a crypto exchange it plans to acquire in a $200 million deal set to close next year.
Robinhood plans to introduce Bitcoin (BTC) and Ether (ETH) futures based on CME in the U.S. However, they have mentioned that there are no immediate plans to launch the offering and the discussions are ongoing, so the final plans could change.
Pluto
This announcement comes after Robinhood announced its acquisition of Pluto Capital, an artificial intelligence research platform. The company aims to provide users with more tailored investment strategies and analysis.
Robinhood made this move to expand its crypto presence and attract institutional clients along with their usual retail customers.
Robinhood has been expanding its services to now include crypto, retirement products, and credit cards. The company works with individual investors to enhance their crypto portfolios.
Robinhood has not announced an official date for futures trading to start.
