Robinhood Crypto
Is Now Available
in All US• Экономика » Финансы » Платежные средства » Доллар США States, Including
Puerto Rico and
Virgin Islands
Robinhood Crypto Is Now Available in All US• Экономика » Финансы » Платежные средства » Доллар США States, Including Puerto Rico and
Virgin Islands
As Robinhood prepares to expand internationally, "it was making sense to
finish what we started in the U.S• Соединённые Штаты Америки (США).," said Johann Kerbrat.
By Stacy Elliott
Jul 2, 2024 Jul 2, 2024
3 min read
Source: Shutterstock
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Robinhood Crypto is now available in all 50 states as well as the U.S• Соединённые Штаты Америки (США). Virgin
Islands and Puerto Rico. That means starting today, users in all U.S• Соединённые Штаты Америки (США).
territories will be able to trade 15 assets on Robinhood Crypto, including
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum, Dogecoin, and Avalanche.
In the states, Robinhood Crypto's primary competition comes from crypto
exchanges Coinbase and Kraken . But the addition of one state and two new
American territories means it's got both of them beat in terms of
availability to U.S• Соединённые Штаты Америки (США).-based customers.
Unlike the two other U.S• Соединённые Штаты Америки (США). exchanges, Robinhood's volume isn't
tracked on price aggregators like CoinGecko or CoinMarketCap. Rather,
Robinhood tends to report its volumes along with its quarterly earnings.
Robinhood saw $7.1 billion worth of crypto traded on its app, a 30% decrease
from the $10.1 billion it saw in April, according to its latest report . The
company's crypto business• Экономика » Бизнес is still dwarfed by its equities business• Экономика » Бизнес,
which saw $86.8 billion traded in May, up 23% from $70.7 billion in April,
according to the company.
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The expansion news was made possible by acquiring an extra license at
Robinhood and easing rules at the state level, Johann Kerbrat, vice president
and general manager of the company's crypto unit, told Decrypt .
"In Puerto Rico we got a money transmitter license and in Hawaii, they
actually ended the current system that they had in place that was kind of
preventing us• Экономика » Финансы » Платежные средства » Доллар США to execute there," he said.
Just last week, the Hawaii Department of Commerce and Consumer Affairs and
Technology Development Corporation jointly announced that crytpo firms "no
longer require a Hawai‘i-issued money transmitter license to conduct business• Экономика » Бизнес
within the state."
And in the U.S• Соединённые Штаты Америки (США). Virgin Islands, where there aren't currently any
state-level cryptocurrency rules, there were no regulatory hurdles to
overcome.
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"In our effort also to go international and to start being available in the
EU, it was making sense to finish what we started in the U.S• Соединённые Штаты Америки (США). and make sure
that we're available everywhere in the U.S• Соединённые Штаты Америки (США)," Kerbrat said.
It's been a bullish summer for Robinhood Crypto. Just last month, the
company announced that it had acquired crypto exchange Bitstamp in a $200
million cash deal. On that front, Kerbrat said that things are still on track
to be completed by early 2025.
"It's going to be a long road," he said. "We have to do the chain of
control and some of the closing conditions, so we don't expect the close
to happen until H1 of 2025."
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