Robinhood Markets, a Silicon Valley-based stock trading app company founded in 2013 announced today they will be launching Robinhood Crypto next month. An early access list was created today anyone interested.
Cryptocurrencies purchased on the Robinhood platform will be stored in a mix of hot (online) and cold (offline) storage.
Real-time data is available now, with the company not yet stating which crypto-assets besides bitcoin and ether would be available come February launch.
Robinhood Crypto is registered with FinCEN as a money services business. As such, Robinhood Crypto is subject to the requirements of the Bank Secrecy Act as well as the money transmitter laws of most U.S. States.
Due to the nature of U.S. regulation, Robinhood Crypto will initially be available in only 5 states including California, Massachusetts, Missouri, Montana, and New Hampshire. The company is planning to add support for more states as soon as possible.