Robinhood has become the darling of not only the online stock trading community but the cryptocurrency community as well.
The company enabled crypto trading in February 2018, and, according to a report by Bloomberg, it had to partner with a Chicago-based trading firm, Jump Trading LLC, to execute the orders.
Jump Trading LLC is a brokerage firm that started in 1999.
Sources told Bloomberg that Jump has traded cryptos since November 2017, just before the crypto boom.
While Robinhood runs the crypto trading platform, it can’t execute the buy and sell orders for its clients.
The Menlo Park-based startup remained tight-lipped about it business with Jump Trading.
The company’s spokesperson, Nora Chan, declined to confirm if Jump executes the trades for Robinhood.