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Breaking: Robinhood Plans to Introduce Crypto Futures In US and Europe Very Soon

Robinhood is reportedly mulling the plans to launch crypto futures product in both the US and Europe very soon
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Breaking: Robinhood Plans to Introduce Crypto Futures In US and Europe Very Soon

Highlights

  • Robinhood is reportedly mulling launching Crypto Futures products in US and EU
  • The timeline for this move according to Bloomberg remains unknown
  • Robinhood has been expanding its global footprint lately

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.

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Robinhood Making Headlines For the Right Reasons

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.

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Robinhood Expands To Virgin Islands, Hawaii and Puerto Rico

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

 

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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