Cryptocurrency trading firm Robinhood on May 23, 2019, announced that it had launched its zero-fee crypto trading app in New York.
After bagging the coveted BitLicense from the New York State Department of Financial Services in January 2019, Robinhood has now announced that its users in New York will be able to use its zero-commission crypto trading services via the Robinhood Crypto app.
With New York added, the total number of states in the U.S. with Robinhood’s presence now sits at 39.
Some major states where Robinhood provides its services include Florida, California, and Washington, among others.
The digital currency trading app currently allows users to trade in seven cryptocurrencies including bitcoin, ether, litecoin, and bitcoin cash The blog post adds that users can track the price of a total of 17 cryptocurrencies through the Robinhood Crypto app.
The launch of services in New York implies that Robinhood did their regulatory homework well, as historically, the New York regulator hasn’t exactly been easy towards cryptocurrency businesses.
The California-based trading firm has achieved some remarkable milestones in the first five months of 2019 which speak of its grit to capture as much market share as it can in the emerging crypto ecosystem.