Robinhood
Robinhood recently obtained a brokerage license in Lithuania, enabling it to expand its services in the EU to include stock trading alongside cryptocurrency.
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Robinhood is developing a blockchain-based platform that will allow retail investors in Europe to trade US securities, including stocks.
Bloomberg reported Wednesday that the initiative will likely be launched in partnership with a digital-asset firm. Both Arbitrum, a blockchain overlaid on Ethereum, and Solana have been under consideration for the collaboration, though discussions are still ongoing.
This move to offer tokenized US securities aligns with a broader trend in the financial industry.
As global institutions explore blockchain’s potential, they see an opportunity to cut costs tied to traditional trading infrastructure while benefiting from greater transparency and standardization.
The company didn’t return Cryptonews’ request for comment by press time.
Robinhood Looks to Expand EU Services with Brokerage License in Lithuania.
Robinhood, which currently only offers cryptocurrency trading to its European Union customers, recently secured a brokerage license in Lithuania. This will allow the company to expand its services within the EU to include stock trading.
In addition, Robinhood is in the process of closing a deal to acquire crypto exchange Bitstamp, which would enable the company to offer crypto-linked derivatives under Bitstamp’s MiFID multilateral trading facility license.
Despite Crypto Growth, Robinhood Aims to Broaden Revenue Sources.
The company has enjoyed strong financial performance, with a 50% jump in revenue for the first quarter of the year. A big chunk of this growth came from its cryptocurrency business, driven by a surge in trading volumes as investors sought to hedge against market volatility. As a result, the platform’s profits more than doubled, surpassing analysts’ expectations.
Despite its reliance on crypto for now, CEO Vlad Tenev said that Robinhood is working to diversify its business. The company plans to reduce...
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