One of the largest retail trading platforms in the world is considering launching crypto futures for customers in the US and Europe.
According to a new Bloomberg report, Robinhood is looking at offering crypto futures trading in the US and European markets, but doesn’t have a specific timeline to do so.
Said a Robinhood spokesperson, according to the report:
“We have no imminent plans to launch these offerings.”
Last month, Robinhood acquired the crypto exchange Bitstamp. As stated by Johann Kerbrat, Robinhood’s general manager of crypto,
“The acquisition of Bitstamp is a major step in growing our crypto business. Bitstamp’s highly trusted and long-standing global exchange has shown resilience through market cycles.
By seamlessly coupling customer experience with safety across geographies, the Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors.
Through this strategic combination, we are better positioned to expand our footprint outside of the US and welcome institutional customers to Robinhood.”
In May, the Securities and Exchange Commission (SEC) issued Robinhood a Wells Notice, or a warning that the agency plans on taking legal enforcement action against them. At the time, Dan Gallagher, chief legal, compliance, and corporate affairs officer at Robinhood Markets, Inc., said that Robinhood does not sell any assets that are considered securities.
“We firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law.”
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