The commission-free trading platform Robinhood is reportedly contemplating introducing crypto futures in the United States and Europe, as revealed by insiders familiar with the company’s strategies.
Bloomberg reported on July 2 that Robinhood’s plan to utilize licenses acquired through its coming $200 million deal with Bitstamp. The goal is to roll out perpetual Bitcoin futures and other tokens across Europe. Additionally, the company is looking to introduce CME-based futures for Bitcoin and Ethereum within the US market.
Despite a statement from a Robinhood spokesperson indicating no immediate plans to introduce these services, internal sources suggest ongoing discussions and the potential for plans to change. This move is being considered against the backdrop of a surge in crypto derivatives trading volumes surpassing spot market activity. In May, centralized exchanges recorded $1.58 trillion in spot trading, with derivatives trading soaring to an impressive $3.69 trillion, as reported by CCData.
Robinhood ambitions in crypto despite SEC Wells notice
The company’s ambitions in the crypto sphere continue to expand steadily despite having received a Wells notice from the US Securities and Exchange Commission earlier this year. Still, in June, Robinhood revealed its plan to acquire Bitstamp, with the transaction set to finalize in the first half of 2025.
The general manager of Robinhood Crypto, Johann Kerbrat, highlighted the importance of acquiring Bitstamp, noting that it enables the company to broaden its reach beyond the US and cater to institutional clients. Since its launch in 2011, Bitstamp has solidified its position as one of the largest crypto exchanges in Europe, facilitating spot trading for more than 85 crypto assets and a range of other products.
However, the possibility of delving into crypto futures is in line with Robinhood’s recent push into international markets. Last December, the company started crypto trading for EU clients. Moreover, securing a futures broker license from Marex earlier this year has opened the doors for future offerings in the US.
Related | Polkadot (DOT) Rockets Towards $9.60 with a 50% Surge Following Bullish Breakout
