CoinDesk Analysis Team
CoinDesk
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.
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