Stock Brokerage App Robinhood Launches Cryptocurrency Trading in 5 States

Stock brokerage app Robinhood has begun rolling out its new cryptocurrency trading platform to users in 5 states. Beginning
Thursday, users who pre-registered for Robinhood Crypto will begin receiving emails inviting them to participate in an early
access program for the platform, which allows investors to trade cryptocurrencies, stocks, and exchange-traded funds (ETFs)
side-by-side on a single platform. Despite the limited roll-out, the creation of Robinhood Crypto promises to introduce
millions of new customers to cryptocurrency trading over the long-term. It took less than one week for the new platform to
achieve 1 million pre-registrations, and the firm said that its brokerage platform already has 4 million users, who
collectively have achieved more than $100 billion in transaction volume. At launch, Robinhood Crypto supports Bitcoin and
Ethereum trading, although users — including those who do not yet have access to Robinhood Crypto — can monitor and track
market data for 16 cryptocurrencies, indicating that the company intends to expand it cryptoasset offerings in the future.


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