Robinhood plans blockchain platform to allow trading of US securities in Europe: Bloomberg
Quick Take
- Robinhood is planning to launch a blockchain-based platform that would allow users in Europe to trade U.S. securities, according to Bloomberg, which cited anonymous sources.
- Layer 2 blockchain Arbitrum is being considered for involvement, the sources said.
Robinhood is planning to launch a blockchain-based platform that would allow users in Europe to trade U.S. securities, according to a Bloomberg report published Wednesday.
"The venture will be likely launched through a partnership with a digital-asset firm," Bloomberg reported, according to anonymous sources, which also said Layer 2 blockchain Arbitrum is being considered as a potential partner in the venture.
Robinhood recently reported first-quarter earnings and said crypto trading volume rose 28% year-over-year to $46 billion, although they declined when compared to the previous quarter. The company generated more than $141 billion in crypto trading volumes throughout 2024 thanks to a rise in trading volumes during the fourth quarter.
The company has also said it generated about $8 billion in crypto trading volume during April, far below the $15 billion monthly average from January to March.
Robinhood, which has not been able to offer Europeans the ability to trade U.S. stocks, launched cryptocurrency trading in Europe in 2023.
The company's share price was up about 2% to $49.67 as of 3:30 p.m. ET.
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