Robinhood Financial announced launch of crypto trading with no fees in four US states: California, Massachusetts, Missouri, and Montana. The list is to be extended later.
Cryptocurrency trading platforms now have a serious competitor: Robinhood Crypto offers services to its users absolutely free of charge.
Robinhood’s zero commission approach for its clients will surely give other crypto exchange a run-for-its-money.
US financial services company Robinhood has incorporated four companies, Quantopian, Rubicoin, StockTwits and Openfolio, to allow users of these platforms trade securities for free.
The nascent financial technology industry has seen rapid growth over the last few years. Nearly all the major banks and financial services firms are either actively incubating or facilitating the development of startups and their technology in the FinTech space.