Stock Brokerage App Robinhood Launches Crypto Trading

Robinhood, the stocks brokerage app, has begun today to enable access to BTC and ETH trading to its customers from 5 states  
22 February 2018   973

Today, users who pre-registered for Robinhood Crypto started receiving emails with invitations to participate in the trading of cryptocurrencies, stocks, and exchange-traded funds (ETFs) side-by-side on a single platform.

According to the company’s statement, the service will be available to users from California, Massachusetts, Missouri, Montana, and New Hampshire, though the company intends to expand into other states as it acquires more money transfer licenses, which are granted at the state level.

Over the past few weeks, we’ve been overwhelmed by the enthusiasm towards Robinhood Crypto and are excited to contribute to the cryptocurrency community in a meaningful way. With the release of Robinhood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.

The platform achieved 1 million pre-registrations for less than one week. Currently, it has 4 million users, who collectively have achieved more than $100 billion in transaction volume.

Robinhood Crypto supports Bitcoin and Ethereum trading, although users can monitor and track market data for 16 cryptocurrencies, indicating that the company intends to expand it crypto asset offerings in the future.

Robinhood will not charge commission on crypto trading,  though prices will include trading fees charged by the underlying exchanges.
 

Gemini Wants to Trade Crypto Securities

The broker-dealer license appeal will be sent to Financial Industry Regulatory Authority, but experts believe the plans implementation can take some time
03 July 2019   1010

Gemini Bitcoin Exchange will apply for a broker-dealer license, which will allow it to operate as an alternative trading system and offer clients securities on the blockchain. It is reported by CoinDesk.

The appeal will be sent to the Financial Industry Regulatory Authority (FINRA).

Gemini has previously entered into a partnership with Harbor, a startup specializing in real-world assets tokenization, which gives institutional investors the opportunity to purchase securities using Gemini Dollar (GUSD).

However, now, as source familiar with the operating activities of Gemini said, the exchange plans to launch trading in similar instruments on its own platform. It is assumed that this will be securities from Harbor, as well as from other projects.

Implementation of these plans, however, may take quite a long time, so FINRA is in no hurry to approve applications for obtaining a broker-dealer license from cryptocurrency companies. Currently, the organization is considering about 40 such applications, while some companies have been waiting for 14 months to complete.

In April, Harbor raised $ 28 million in funding from a number of venture capital investors, including Andreessen Horowitz and Pantera Capital. In November of the same year, the company launched a platform for distributing security tokens, starting with the sale of shares in The Hub residential complex in South Carolina.