U.S.-based mobile stock trading app Robinhood has added two new cryptocurrencies to its no-fee trading service.
The company said in an announcement on Thursday that litecoin and bitcoin cash have been added for Robinhood Crypto users following strong demand from customers for crypto assets beyond the current options of bitcoin and ethereum.
As part of the announcement, Robinhood also claimed it now has over 5 million users on the platform following expansion of its crypto trading service to 17 U.S. states.
The news follows a report in May that Robinhood raised $363 million in a Series D funding round, which the company said would allow it to offer more crypto trading pairs in more markets in the U.S. At the time, Robinhood Crypto was available in 10 states.
Crypto trading has been opened up across Utah, Virginia, Pennsylvania, Arizona, Indiana, New Jersey and Texas.
The company's co-founder and co-CEO Baiju Bhatt previously said he expects Robinhood Crypto to be able to cover the entire U.S. by the end of 2018 as part of a plan to become one of the largest cryptocurrency platforms.
As previously reported by CoinDesk, Robinhood launched the crypto trading service in February, offering bitcoin and ethereum trading pairs in five states.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Litecoin, Bitcoin Cash Are Latest Crypto Additions to Robinhood Investing App
Udgivet den Jul 12, 2018
by Coindesk | Udgivet den Coinage
Coinage
Seneste nyheder
Se alt
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.