Robinhood eyes crypto future in America and Europe
Key receivers
Robinhood plans to offer crypto futures in US and Europe after Bistamp acquisition. Global crypto derivatives market size reached $3.69 trillion in May, surpassing spot trading.
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Robinhood ]is exploring the possibility of offering crypto futures in the US and Europe in the coming months, according to Bloomberg, citing sources familiar with the matter.
Following the closing of its $200 million acquisition of Bitstamp Ltd. next year, Robinhood aims to provide a sustainable future for Bitcoin and other European tokens using the Luxembourg-based crypto exchange's licenses. The company is considering launching CME-based futures for Bitcoin and Ether in the US.
“We have no immediate plans to launch these offerings,” a Robinhood spokeswoman told Bloomberg. The sources, who asked not to be named due to the confidentiality of the plans, indicated that discussions are ongoing and no final decisions have been made.
The Global Crypto Derivatives Market is currently outsized by spot trading. CCData reported that spot trading volume on central exchanges reached $1.57 trillion in May, while monthly derivatives totaled $3.69 trillion. Interest in the futures increased following the approval of U.S. bitcoin exchange-traded funds earlier in the year.
Robinhood has been expanding its crypto strategy despite the Wells notice from the US Securities and Exchange Commission. In June, the company agreed to acquire Bitstamp, a deal signed in 2015. It is expected to close in the first half of 2025. In addition, Robinhood Marx bought FCM in March, obtaining the necessary licenses to offer futures in the US.
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