Robinhood’s Crypto Trading Platform Expands To Two More US States

Announcements, News | May 8, 2018 By:

Stock trading app Robinhood has expanded its crypto trading platform to two new US states, Wisconsin and New Mexico.

Founded in 2013, Robinhood is a stock brokerage application that democratizes access to the financial markets. The platform enables its customers to buy and sell US listed stocks and exchange-traded funds (ETF) with zero commission. In February of this year, the company introduced cryptocurrency trading on its platform, allowing retail investors to trade bitcoin and ethereum with no fees.

The Robinhood Crypto platform was initially launched in California, Massachusetts, Missouri, Montana, and New Hampshire. Last month, it expanded to Colorado, and Mississippi, and now it lands at Wisconsin and New Mexico. According to rough estimates, the app is now available for over 8 million people in eight US states.

The team behind the app publicly announced on Friday that they were “working through regulatory processes to bring Robinhood Crypto trading to more states.”

In addition to cryptocurrency trading, the Robinhood Crypto app also offers market data on a total of sixteen cryptocurrencies including bitcoin, ethereum, Bitcoin Cash, Litecoin, Ripple, Ethereum Classic, Zcash, Monero, Dash, Stellar, Qtum, bitcoin Gold, Omisego, NEO, Lisk and Dogecoin. The company is also planning to launch Robinhood Feed, an open platform to discuss any information regarding cryptocurrency.

The Robinhood Crypto app has helped the company grow quickly. It reportedly had over a million signups before launch. Currently, the app boasts around four million users between its stock brokerage and cryptocurrency platforms combined.