Digital currency-friendly stock trading platform Robinhood Markets Inc. has reportedly hired Goldman Sachs to lead its upcoming initial public offering.
According to a Reuters report, Robinhood’s IPO is to take place in 2021.
As CoinGeek reported in November, Robinhood’s IPO has been an open secret on Wall Street.
At the time, Robinhood called on banks to pitch for roles in the IPO, and as per new reports, Goldman Sachs emerged the favored pick.
In 2020 alone, Robinhood has raised $1.25 billion.
Robinhood launched digital currency trading in early 2018.
Baiju Bhatt, the cofounder and co-CEO, stated that Robinhood Crypto intends to make digital currencies “a much more stable, much more reliable, and a much healthier ecosystem.”