Cryptocurrency trading platform Robinhood is reportedly considering listing crypto futures in the US and Europe.
In the upcoming months, Robinhood may sell Bitcoin futures in the US and Europe, according to a story published by Bloomberg News on Tuesday. The commission-free trading software intends to use Bitstamp’s licenses, a cryptocurrency exchange it plans to purchase in a $200 million deal expected to finish early next year. Robinhood intends to launch Bitcoin (BTC) and Ether (ETH) futures based on CME in the United States.
The final plans may vary, though, since they have stated that there are no immediate plans to launch the service and that conversations are still underway. This statement follows Robinhood’s revelation that it has acquired the artificial intelligence research platform Pluto Capital.
The startup wants to offer users more individualized investment evaluations and solutions. Robinhood took this action in an effort to draw in institutional investors in addition to their regular retail clientele and increase their crypto footprint.
With its ongoing expansion, Robinhood offers credit cards, retirement products, and cryptocurrency. The business helps individual investors grow their cryptocurrency holdings. Robinhood has disclosed no formal launch date for futures trading.