Pluto

The acquisition will enhance Robinhood’s retail investment offerings, including crypto, through AI-driven analytics and democratized financial access.
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.
Pluto, established by 24-year-old Jacob Sansbury, is famous for its personalized investment advice and real-time analytics powered by AI.&nbsp;
This move follows Robinhood’s plans to <a href="https://crypto.news/robinhood-to-acquire-bitstamp-for-200m-major-step-in-growing-our-crypto-business/" target="_blank" data-type="link" data-id="https://crypto.news/robinhood-to-acquire-bitstamp-for-200m-major-step-in-growing-our-crypto-business/" rel="noopener noreferrer nofollow">become more involved</a> in the crypto industry. Last month, the trading app acquired crypto exchange&nbsp;<a href="https://crypto.news/tag/bitstamp/" target="_blank" rel="noopener noreferrer nofollow">Bitstamp</a>.
They made this move to expand Robinhood’s crypto presence, attract institutional clients through new product offerings, and leverage&nbsp;<a href="https://crypto.news/ripple-labs-transfers-27-7-million-xrp-tokens-to-bitstamp/" target="_blank" rel="noopener noreferrer nofollow">Bitstamp’s established relationships</a> and infrastructure.
Mayank Agarwal, Robinhood’s vice president of engineering, praised Pluto’s platform, stating, “They have built an impressive platform that is highly regarded in the financial services industry. 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.”
The details of the agreement have not been disclosed.
<h2 class="wp-block-heading" id="robinhood-s-expansion">Robinhood’s expansion</h2>
<a href="https://crypto.news/tag/robinhood/" target="_blank" data-type="link" data-id="https://crypto.news/tag/robinhood/" rel="noopener noreferrer nofollow">Robinhood</a> 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.&nbsp;
Pluto’s technology will analyze current market data and users’ portfolios to provide tailored investment suggestions. Sansbury stressed retail investor accessibility, stating, “There will be no thresholds or gates. It’s very important for us to give access democratically to everyone.”&nbsp;
This acquisition marks a significant step in Robinhood’s mission to <a href="https://crypto.news/robinhood-crypto-android-wallet/" target="_blank" data-type="link" data-id="https://crypto.news/robinhood-crypto-android-wallet/" rel="noopener noreferrer nofollow">democratize crypto investments</a>, making investment advice available to all investors, regardless of their wealth.
<h2 class="wp-block-heading" id="crypto-implications">Crypto implications&nbsp;</h2>
Robinhood’s acquisition of Pluto Capital enhances its retail investment offerings and holds promise for the crypto industry. Pluto’s AI-driven analytics could revolutionize how users engage with digital assets, and crypto investing with real-time data and personalized insights.
Robinhood and Pluto are joining a larger trend of incorporating <a href="https://crypto.news/ai-crypto-showdown-bitbot-and-chaingpt-battle-for-gains/" target="_blank" data-type="link" data-id="https://crypto.news/ai-crypto-showdown-bitbot-and-chaingpt-battle-for-gains/" rel="noopener noreferrer nofollow">AI into fintech and crypto</a>. Sometimes, AI is used to enhance user experience and decision-making. Other times it is to predict market prices, both on Wall Street or in crypto.
Both companies have the goal of making advanced investment tools available to regular investors, ultimately boosting confidence and involvement in crypto.

Robinhood acquires AI investment firm Pluto Capital

Table of Contents

crypto.news

Other articles published on Jul 1, 2024

How Bitcoin Performed in the First Half of 2024?

Can Solana bulls push SOL above $150 this week?

XRP to Skyrocket Next Week? Ethereum (ETH) Not Losing $3,370, Will Solana (SOL) Reach $150 Again?

ENS Jumps 30% On The Anticipation Of ENSv2 Upgrade

Previous Bull Oracle Tom Lee Shares His New Prophecies for Bitcoin (BTC) Price

Bitcoin Surges Amid Market Volatility

Join our free newsletter for daily crypto updates!