Robinhood Expands Commission-Free Trading

Robinhood expanded to more states opening a zero charge trading to investors in California, Massachusetts, Missouri, and Montana
03 April 2018   572

Robinhood is promoting the idea that a technology-driven brokerage could operate with significantly less overhead as it cuts out the charges that make other brokerages costly. It has reported recently that it is making a commission-free Bitcoin and Ethereum trading available to investors in California, Massachusetts, Missouri, and Montana.

Robinhood twitterRobinhood announcement on Twitter

The users were pretty amused by the news and started asking about the same services in other states like Texas, New York, Chicago, but the exchange did not make any official statements regarding other states yet, although there is sure a possibility that Robinhood will expand its services further.

It is worth reminding that in February the exchange tweeted that it started to gradually send invites to customers residing in CA, MA, MO, MT, NH, lookingforward to releasing crypto trading functionality in more states later. In the meantime, the users can monitor market data for 16 cryptocurrencies and add them to the watchlist.

Bakkt to be Launched in December

It is also reported that Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure
19 October 2018   53

The expected launch of the Bakkt will take place on December 12 of this year. It is reported by The Block, citing informed sources.

Also, the material states that the investment bank Goldman Sachs does not plan to create custodial cryptocurrency solutions based on the Bakkt infrastructure. At the same time, the bank is considering the possibility of trading futures on a new platform.

In a recent Fortune interview with Bakkt, Kelly Lofler said that the cryptocurrency market is on the verge of a revolution comparable in size to the one that occurred on the energy market in the early 2000s.

Greater institutional participation in the digital asset markets requires secure and regulated custody solutions. We are impressed by BitGo’s product, unique services, and the management team. We view our investment in BitGo as an exciting opportunity to contribute to the evolution of this critical market infrastructure.

Rana Yared

Managing director, Goldman Sachs’ Principal Strategic Investments group

Bakkt is a cryptocurrency unit of the Intercontinental Exchange (ICE), which is the operator of the New York Stock Exchange. Giants such as Microsoft and Starbucks are taking part in creating of the new project, which is positioned as an “ecosystem for digital assets”.

The new platform will offer deliverable bitcoin futures to the market (unlike the settlement contracts for CBOE and CME, these are based on the underlying asset). The platform will support multiple fiat currencies.