Recently, Robinhood, an American financial services company based in California, announced that it launched its Robinhood Crypto in Rhode Island. He also claimed that large cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH] now it can be traded on the platform for Rhode Island, with no commissions. On his official Twitter handle, Robinhood wrote:
"Robinhood Crypto has anchored in Rhode Island, exchanges for free Bitcoin, Litecoin, Ethereum and other cryptocurrencies."
At the beginning of this month, Robinhood CEO Baiju Bhatt spoke about the TechCrunch Disrupt SF platform. Here, he revealed that soon society will become public and is considering an IPO to execute the plan. In addition, Robinhood is also seeking a Chief Financial Officer and is undergoing several audits by the Securities and Exchange Commission [SEC] and the regulatory authority of the financial industry [FINRA], the two regulatory bodies in the United States.
In addition to cryptocurrencies, Robinhood also provides services in securities trading, customer tracking, ETFs and more and is currently one of Silicon Valley's rapidly growing startups.
However, the exchange also has competition in the cryptocurrency space with startups such as Coinbase gaining more and more popularity and funding from investors. On Tuesday, the news of Coinbase broke out, raising an investment of $ 500 million from Tiger Global.
The total investments attracted by the company are $ 539 million from large investors, some of whom are Andreessen Horowitz, Kleiner Perkins, Google Capital G and Sequoia.
Recently, the platform fell on the controversial side of the crypto-space when it was claimed that it would sell the user's personal data for capitalization. In a subsequent statement, Robinhood made it clear that he never, will not sell and will never sell customer data according to customers' security and privacy policies.
Currently, Robinhood Crypto is available in Alaska, Arizona, California, Colorado, Florida, Georgia, Indiana, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Oklahoma, Pennsylvania, Rhode Island, Texas, Utah, Virginia and Wisconsin.
Surreal, a Twitter user and a space blockchain enthusiast wrote:
"When Texas will be added to the list." – Surreal
On this, the exchange responded and stated that people living in Texas can invest as the state is already on the list. The answer said:
"Texas is on the list! Feel free to invest in crypto on Robinhood if you live in the State of Lone Star."
David Sawyers, a space enthusiast with cryptocurrency and entrepreneur, also wrote and talked about adding XRP to Robinhood. He said:
"You guys are spreading fast enough, get XRP on your list and millions will come."