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Robinhood expands crypto offerings with micro futures for XRP, Solana, and Bitcoin
Credit : cryptoslate.com
Robinhood expanded his Futures -Handelsuite by including micro -futures contracts for XRP, Solana (SOL) and Bitcoin (BTC), in keeping with an announcement of 27 June.
The brokerage of NUL committee stated that the brand new merchandise provide decrease margin necessities and seamless efficiency via the Commerce Ladder Interface.
Every Micro XRP -Future contract represents 2,500 XRP, round $ 5,200 on the present market costs, with comparable specs that apply to the Solana and Bitcoin -Micro -Futures.
The launch follows the partnership of Robinhood in January with CME Group to combine many traded futures into his cell app, aimed toward simplifying entry for retail buyers.
CME debuted in Might XRP -Futures and generated $ 542 million in month-to-month notional quantity, with Solana Futures rolled out earlier this yr.
Robinhood began providing futures in October in October, initially targeted on conventional markets reminiscent of Oil and the S&P 500 Index. This growth to Crypto -Futures displays its broader ambition to change into an in depth platform for commerce and monetary providers.
Since including crypto commerce in 2018, Robinhood has accelerated its digital asset technique, with now greater than 26 tokens within the US and nearly 50 in Europe.
The earnings from the primary quarter of the corporate confirmed crypto earnings that contributed greater than 43% of the overall income-based earnings, which strengthened the activa class as a core development.
Earlier this month, Robinhood accomplished its $ 200 million takeover of Bitstamp, acquiring institutional infrastructure and increasing the worldwide vary to assist its crypto provide.
CEO Vlad Teev has framed these actions as centrally in constructing a “monetary super-app” that integrates funding, banking and AI-driven private monetary instruments for Gen Z and Millennial customers.
The addition of Micro XRP, Solana and Bitcoin Futures is aimed toward retail merchants in search of livered crypto -exposure with smaller capital obligations, the place Robinhood’s Push to catch the market share in digital property derivatives.
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