Cryptocurrency trading platform Robinhood is reportedly considering listing crypto futures in both the US and Europe. The platform is reportedly seeking to introduce the futures trading “in the coming months,” according to a Bloomberg report.
The firm would opt to use the various licenses it acquired from its $200 million purchase of the Bitstamp crypto exchange. The deal is expected to close next year, and would allow the company to use the exchange platforms license to offer perpetual futures for Bitcoin and other digital assets.
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Robinhood Looking to List Perpetual Futures in US and Europe
Robinhood may be looking to expand, as reports suggest the company has considered listing crypto futures in both the US and Europe. The plans have not yet been made public, but anonymous sources have expressed the firms interest in launching CME- based futures for both BTC and Ethereum.
“We have no imminent plans to launch these offerings,” a spokesperson told Bloomberg. They ensured that discussions are still taking place. The report also noted that the plan could potentially change.
The crypto trading platform received a Wells Notice from the SEC earlier this year. That hasn’t stopped their commitment to the crypto market, however. The company is in the midst of an international expansion. Meanwhile, Robinhood Crypto is already available in 50 US states, the Virgin Islands, and Puerto Rico.
Also Read: Will Robinhood’s Bitstamp Acquisition Help With SEC Hurdles?
In July, the company’s trading services officially allowed the trading of 15 assets, including Bitcoin, ETH, Dogecoin, and Avalanche, across all US territories. Still, the firm reported a drop in its crypto trading. The app had seen $7.1 billion traded. However, that was a 30% drop from its $10.1 billion in April.
The demand for futures has only grown since spot Bitcoin ETFs were approved in January. Indeed, crypto derivatives trading volumes reached $3.69 trillion. That figure is far greater than centralized spot trading volumes of $1.57 trillion.