tl;dr
Robinhood, through its crypto entity, is reportedly planning to launch a crypto futures product in the United States and Europe. The firm has recently made two acquisitions, including Bitstamp, a cryptocurrency exchange, and Pluto, an AI-powered investment research firm, signaling its commitment to ...
Robinhood is planning to launch a crypto futures product in the United States and Europe, in line with recent acquisitions and expansions.
Recent acquisitions of Bitstamp and Pluto demonstrate Robinhood's commitment to democratizing finance and enhancing its crypto services.
Robinhood expands its crypto service to the Virgin Islands, Hawaii, and Puerto Rico, allowing users to trade 15 different cryptocurrency assets.
Robinhood, through its crypto entity, is reportedly planning to launch a crypto futures product in the United States and Europe. The firm has recently made two acquisitions, including Bitstamp, a cryptocurrency exchange, and Pluto, an AI-powered investment research firm, signaling its commitment to expanding its services. Robinhood's intense pivot towards crypto products is driven by increased customer demand. The timeline for the crypto futures product launch remains undisclosed, but it aligns with the recent expansion of its crypto service to new territories in the United States, including Virgin Islands, Hawaii, and Puerto Rico, allowing users to trade 15 different cryptocurrency assets. This move positions Robinhood Crypto ahead of major U.S. competitors like Coinbase and Kraken. The company may also consider further expansion to other regions in the near future.
Commission-free Brokerage firm Robinhood, through its crypto entity, is reportedly planning to launch a crypto futures product. According to a Bloomberg report, the firm is planning to introduce this product in both the United States and Europe.
Robinhood has made the headlines in recent times for all the right reasons. Over the past few weeks, the firm has made two acquisitions to further its role as a brokerage. It inked a $200 million deal to buy Bitstamp, one of the oldest exchanges in Europe. As a cryptocurrency exchange that holds over 50 global licenses and registrations, the acquisition of Bitstamp marks a strategically valuable addition to Robinhood’s portfolio. The acquisition of Bitstamp is expected to close in the first half of next year. It is currently awaiting regulatory approval, which will allow it to offer more advanced crypto services internationally. Its latest acquisition was for Pluto, an AI-powered investment research firm. This acquisition is aimed at enhancing the exchange’s offerings with advanced AI tools, catering to retail investors. Robinhood acknowledged the solutions that Pluto provides, citing that “their expertise in artificial intelligence coupled with a mission-aligned passion to democratize finance will complement our team’s effort to bring AI-powered tools to our customers.” All of these developments are an indication of Robinhood’s commitment towards democratizing finance and extending its services. Johann Kerbrat, general manager of Robinhood Crypto, emphasized that the company’s recent intense pivot towards crypto products is driven by increased customer demand.
Notably, the timeline for this crypto futures product remains undisclosed. However, it aligns with the launch of a similar product in three new regions of the United States. Robinhood recently expanded its crypto service to new territories in the United States including Virgin Islands, Hawaii and Puerto Rico. This expansion allows Robinhood users in these regions to trade 15 different cryptocurrency assets on the platform, including popular options like Bitcoin and Ethereum. This move puts Robinhood Crypto ahead of major U.S. competitors like Coinbase and Kraken. The long streak of acquisition and expansion may not be over as Robinhood may consider expanding to other regions in the near future.
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Sector: COMPUTER PERIPHERAL EQUIPMENT
Market Cap: $40,427,500
Dividend Yield: N/A
EPS: -0.14
P/E Ratio: 1.396
Profit Margin: -0.0677
Volume: 13,786,000
Shares Outstanding: 7,000,000
Stock Price: $21.01
Change: -0.047
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Sub-Industry: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT
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EBITDA: None
PE Ratio: None
Dividend Yield: -3.55
52-Week High: 4.196
52-Week Low: -0.162
Avg. Volume: 20756000
EPS: None
Beta: 0
Price/Sales: 0.463