Robinhood considering offering crypto futures in US, Europe, Bloomberg reports

(Reuters) - Robinhood Markets is considering offering cryptocurrency futures in the U.S. and Europe in the coming months, Bloomberg News reported on Tuesday, citing people familiar with the matter.

The commission-free trading app is hoping to use the licenses of crypto exchange Bitstamp, which it agreed to buy last month in a $200 million deal, once the transaction closes next year, the report said.

It also wants to launch CME-based futures in the U.S. for Bitcoin and Ether.

"We have no imminent plans to launch these offerings," a spokesperson for the company said in a statement to Reuters.

The company's crypto business is seeing rapid growth but is also facing regulatory hurdles in the U.S.

Robinhood Crypto was the driving force behind a massive first-quarter earnings beat in May, but the same week it also disclosed that it received a so-called Wells notice from the U.S. securities regulator over tokens traded on its platform.

The notice is issued when the regulator plans to bring enforcement action against a company.

(Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Arxis, Inc. (ARXS) Reports Q2 EPS of $0.28; offers guidance
• Jeep-maker Stellantis Q2 profit miss stirs doubts about Filosa revival plan
• Baird Upgrades Werner Enterprises (WERN) to Outperform