Robinhood is reportedly considering offering cryptocurrency futures trading in the United States and Europe, but has yet to announce an official launch date.
Bloomberg News reported on Tuesday that Robinhood is considering offering cryptocurrency futures trading in the United States and Europe in the coming months.
The commission-free trading app aims to leverage the license of cryptocurrency exchange Bitstamp, which it plans to acquire in a $200 million deal due to close next year.
Robinhood plans to introduce Bitcoin (BTC) and Ether (ETH) futures based on the U.S.-based CME, but the company said it has no plans to launch the service immediately and that final plans are subject to change as discussions are ongoing.
Pluto
The announcement comes after Robinhood announced it was acquiring artificial intelligence research platform Pluto Capital, which aims to provide more customized investment strategies and analysis to its users.
Robinhood made the move to expand its cryptocurrency presence and attract institutional clients in addition to its usual retail customers.
Robinhood has expanded its services and now includes cryptocurrencies, retirement products and credit cards, and the company works with individual investors to help them build their cryptocurrency portfolios.
Robinhood has not officially announced a launch date for futures trading.
