Robinhood Reports Huge Cryptocurrency Trading Interest

Robinhood Reports Huge Cryptocurrency Trading Interest

Robinhood, a major player in the FX market industry, recently released a report indicating that its crypto traders have significantly increased over the last couple of months. The firm has exponentially expanded its cryptocurrency offerings in order to succumb to the increasing demand from traders. It also highlighted the ever-growing interest in crypto derivatives.

The United States-based financial service provider indicated that some 9.5 million clients have traded crypto assets in the first three months of this year. Compared to last year’s 1.7 million in Q4, one can see why the company is focusing on improving its digital coin services.

The company also released a rather ironic statement in which it asserts that cryptocurrencies have an ultimate mission of taking the power away from large institutions and distributing it among the people.

Vladimir Teneve founded Robinhood, and over the years the company has reached a massive audience, especially retail investors. However, earlier this year the platform received massive media and critical backlash after the company disabled the trading of several stocks and cryptos due to unexpected price volatilities.

The company is currently offering both retail and institutional investors the ability to trade with some of the biggest cryptocurrencies in the market, including Bitcoin, Ethereum, Dogecoin, Litecoin, Ethereum Classic, BCH, and Bitcoin SV.

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