One of the globe’s premier retail trading platforms contemplates the introduction of cryptocurrency futures for its clientele in the United States and Europe. As per a fresh report from Bloomberg, Robinhood is exploring the possibility of providing crypto futures trading in both the US and European markets, although no definitive timeline has been set for this endeavor. A spokesperson for Robinhood mentioned in the report, “We currently have no immediate plans to roll out these services.”
Recently, Robinhood made headlines with its acquisition of the cryptocurrency exchange Bitstamp. Robinhood’s general manager of crypto, Johann Kerbrat, highlighted the significance of this move by stating, “The acquisition of Bitstamp marks a significant advancement in our crypto operations. Bitstamp, known for its strong reputation and enduring presence in the global exchange arena, has demonstrated resilience across various market cycles. By seamlessly blending customer satisfaction with security measures worldwide, the Bitstamp team has earned a distinguished standing among retail and institutional crypto investors. Through this strategic integration, we are better equipped to extend our reach beyond the US borders and cater to institutional clients at Robinhood.”
In a separate development, the Securities and Exchange Commission (SEC) issued a Wells Notice to Robinhood in May, indicating the agency’s intent to pursue legal action against the company. In response, Dan Gallagher, the chief legal, compliance, and corporate affairs officer at Robinhood Markets, Inc., emphasized that Robinhood does not deal in assets classified as securities. Gallagher stated, “We are confident that the assets available on our platform do not fall under the category of securities, and we eagerly anticipate discussions with the SEC to clarify the tenuous nature of any potential case against Robinhood Crypto, both factually and legally.”
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