One of the world’s largest retail trading platforms is considering launching crypto futures for clients in the US and Europe.
According to a new Bloomberg reportRobinhood is considering offering crypto futures trading in the US and European markets, but has no specific timeline for doing so.
A Robinhood spokesperson said, according to the report:
“We have no immediate plans to launch this offering.”
Last month, Robinhood acquired the crypto exchange Bitstamp. As Johann Kerbrat, Robinhood’s general manager of crypto, says:
“The acquisition of Bitstamp is an important step in the growth of our crypto activities. Bitstamp’s highly trusted and long-standing global exchange has shown resilience through market cycles.
By seamlessly linking customer experience with security across all geographies, the Bitstamp team has built one of the strongest reputations among private and institutional crypto investors.
Through this strategic combination, we are better positioned to expand our footprint outside the US and welcome institutional clients to Robinhood.”
In May, the Securities and Exchange Commission (SEC) issued Robinhood a Wells Notice, or a warning that the agency plans to take legal enforcement action against them. Dan Gallagher, chief legal, compliance, and corporate affairs officer at Robinhood Markets, Inc., said at the time that Robinhood does not sell assets that are considered securities.
“We strongly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to clarify how weak any case against Robinhood Crypto would be, both on the facts and of the law.”
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Featured image: Shutterstock/Mia Stendal