Cryptobroker Robinhood announces New York licence

Rajan Dhall, MSTA FX Daily

Broker Robinhood announces that the company has received the BitLicense and a money transmitter license to operate in New York.

Robinhood announced New Yorkers can now buy Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Litecoin, and Dogecoin. Robinhood are a U.S.-based financial services company headquartered in Menlo Park, California. The main product the company offers is the Robinhood smartphone mobile app, which allows individuals to invest in public companiesand exchange-traded funds listed on U.S. stock exchanges without paying a commission. The firm was started by Vladimir Tenev and Baiju Bhatt who both had previously built high-frequency trading platforms for financial institutions on Wall St. This is massive news for the firm who also announced the news that they can now trade in London through the firm’s subsidiary, Robinhood International which has now has received a broker’s license from the Financial Conduct Authority (FCA).

In the past few hours BTC/USD has moved to the upside and this news may just compund the move higher. Robinhood is a very popular platform and any expansion especially in such a large state such as New York.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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