Cryptocurrencies: 6452 / Markets: 40392 Market Cap: 24h Vol:
Seeking Alpha
2021-04-08 20:19:24

Robinhood scales up cryptocurrency trading capabilities

Robinhood (RBNHD) says 9.5M of its customers traded cryptocurrency in Q1 2021, up from 1.7M in Q4 2020.And the company is taking steps to continue the growth. It has more than tripled its crypto team since the beginning of the year, hiring people in engineering, security, and compliance in an effort to "scale and build crypto withdrawals and deposits quickly and safely," it said on its blog.Robinhood says the buildup of its cryptocurrency operations fits with the fintech's mission: "The prospect of an open and decentralized global financial system, one where everyone can have access to financial services, strongly aligned with Robinhood’s mission — so democratizing cryptocurrency trading felt like a natural next step."

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer