Cryptocurrency buying and selling platform Robinhood is reportedly contemplating itemizing crypto futures in each the US and Europe. The platform is reportedly looking for to introduce the futures buying and selling “within the coming months,” in accordance with a Bloomberg report.
The agency would choose to make use of the assorted licenses it acquired from its $200 million buy of the Bitstamp crypto change. The deal is anticipated to shut subsequent yr, and would enable the corporate to make use of the change platforms license to supply perpetual futures for Bitcoin and different digital belongings.
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Robinhood Seeking to Listing Perpetual Futures in US and Europe
Robinhood could also be trying to develop, as reviews recommend the corporate has thought of itemizing crypto futures in each the US and Europe. The plans haven’t but been made public, however nameless sources have expressed the companies curiosity in launching CME- based mostly futures for each BTC and Ethereum.
“We’ve got no imminent plans to launch these choices,” a spokesperson advised Bloomberg. They ensured that discussions are nonetheless happening. The report additionally famous that the plan might probably change.
The crypto buying and selling platform obtained a Wells Discover from the SEC earlier this yr. That hasn’t stopped their dedication to the crypto market, nonetheless. The corporate is within the midst of a global enlargement. In the meantime, Robinhood Crypto is already obtainable in 50 US states, the Virgin Islands, and Puerto Rico.
Additionally Learn: Will Robinhood’s Bitstamp Acquisition Help With SEC Hurdles?
In July, the corporate’s buying and selling companies formally allowed the buying and selling of 15 belongings, together with Bitcoin, ETH, Dogecoin, and Avalanche, throughout all US territories. Nonetheless, the agency reported a drop in its crypto buying and selling. The app had seen $7.1 billion traded. Nonetheless, that was a 30% drop from its $10.1 billion in April.
The demand for futures has solely grown since spot Bitcoin ETFs have been permitted in January. Certainly, crypto derivatives buying and selling volumes reached $3.69 trillion. That determine is much higher than centralized spot buying and selling volumes of $1.57 trillion.
