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Popular commission-free trading app Robinhood Markets is reportedly considering launching cryptocurrency futures in the US and Europe, Bloomberg reports.
The company plans to use licenses from Bitstamp, a crypto exchange it agreed to acquire last month in a deal worth $200 million. The transaction is expected to close next year, and Robinhood hopes to leverage Bitstamp's licenses to offer these new services.
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Additionally, Robinhood is looking to further expand its crypto offerings by launching CME-based futures for Bitcoin and Ethereum in the US. However, a company spokesman told Reuters there were “no immediate plans to launch these services.”
Despite promising growth in its crypto business, Robinhood faces significant regulatory challenges in the US. The company's crypto arm, Robinhood Crypto, was a key contributor to a significant earnings increase in the first quarter. However, in the same week, the company announced that it had received a Wells notice from the US securities regulator over tokens traded on its platform. Wells notice is usually issued in cases where the regulator is planning to take enforcement action against a company.
*This is not investment advice.
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New Serious Cryptocurrency Step from Robinhood, One of the Largest Stock Exchange Companies in the US

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