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 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.,Read More: Tether Inks MoU With BTguru to Boost Crypto Freedom in Turkey, ,
https://coinniu.com/breaking-robinhood-plans-to-introduce-crypto-futures-in-us-and-europe-very-soon/
