Connect with us
Active Currencies 14017
Market Cap $2,467,437,470,640.90
Bitcoin Share 50.64%
24h Market Cap Change $-4.48

Stock and crypto app Robinhood to raise $200 million

1min Read
Stock and crypto app Robinhood to raise $200 million

Share this article

The US-based, Robinhood a stock and crypto trading app is likely to raise $200 million through a new funding round. The news was earlier covered by Bloomberg. 

Though the news was received from an unspecified source who has details about the matter. As per the reports by Bloomberg in further funding rounds, Robinhood could further get funding to the tune of $7 to $8 billion. 

As per a few other sources told Bloomberg that the new round of investment is to be received by the already existing investors, who have asked the company not to reveal their identity and it is to be kept a secret. 

The crypto trading app allows a zero fee stock trading and they had initially started with Bitcoin and Ether trading during January last year. 

Robinhood also recently announced that they have begun their operations in New York after the acquired BitLicense by New York State Department of Financial Service [DFS] in January. With this acquisition via the Robinhood Crypto platform citizens of the city can now trade with seven major cryptocurrencies without any commission fee. 

According to Crptocompare, a crypto data provider publicized the fact that centralized crypto exchange has shown an increase in trade volume in April.

Share

Aakash is a full-time cryptocurrency journalist at AMBCrypto covering primarily the US market. A graduate in Finance and Economics, his writing is centered around regulation and institutional investment within the cryptocurrency space. He is also an aspiring triathlete.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.