U.S.-based mobile stock trading app Robinhood has added two new cryptocurrencies to its no-fee trading service.
The company said in an announcement on Thursday that litecoin and bitcoin cash have been added for Robinhood Crypto users following strong demand from customers for crypto assets beyond the current options of bitcoin and ethereum.
As part of the announcement, Robinhood also claimed it now has over 5 million users on the platform following expansion of its crypto trading service to 17 U.S. states.
The news follows a report in May that Robinhood raised $363 million in a Series D funding round, which the company said would allow it to offer more crypto trading pairs in more markets in the U.S.
At the time, Robinhood Crypto was available in 10 states. Since then, crypto trading has been opened up across Utah, Virginia, Pennsylvania, Arizona, Indiana, New Jersey and Texas.
The company's co-founder and co-CEO Baiju Bhatt previously said he expects Robinhood Crypto to be able to cover the entire U.S. by the end of 2018 as part of a plan to become one of the largest cryptocurrency platforms.
As previously reported by CoinDesk, Robinhood launched the crypto trading service in February, offering bitcoin and ethereum trading pairs in five states.
All writers’ opinions are their own and do not constitute financial advice in any way whatsoever. Nothing published by CoinDesk constitutes an investment recommendation, nor should any data or Content published by CoinDesk be relied upon for any investment activities. CoinDesk strongly recommends that you perform your own independent research and/or speak with a qualified investment professional before making any financial decisions.
Recommended Content
Editors’ Picks
EUR/USD retreats below 1.0700 after US GDP data
EUR/USD came under modest bearish pressure and retreated below 1.0700. Although the US data showed that the economy grew at a softer pace than expected in Q1, strong inflation-related details provided a boost to the USD.
GBP/USD declines below 1.2500 as USD rebounds
GBP/USD declined below 1.2500 and erased the majority of its daily gains with the immediate reaction to the US GDP report. The US economy expanded at a softer pace than expected in Q1 but the price deflator jumped to 3.4% from 1.8%.
Gold drops below $2,320 as US yields shoot higher
Gold lost its traction and turned negative on the day below $2,320 in the American session on Thursday. The benchmark 10-year US Treasury bond yield is up more than 1% on the day above 4.7% after US GDP report, weighing on XAU/USD.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.