Robinhood Markets, a Silicon Valley-based stock trading app company founded in 2013, and which launched Robinhood Crypto a year ago, announced today that the company has received a virtual currency license, also known as the BitLicense, and a money transmitter license in New York State.
This will allow New Yorkers to invest in cryptocurrencies on the Robinhood platform. With Robinhood Crypto, users can invest in seven cryptocurrencies including Bitcoin and Ethereum, commission-free. Robinhood Crypto is already available in over thirty states and will roll out in New York over the coming months.
“As we introduce new financial products, we’re committed to partnering with regulators to ensure compliance with industry requirements. Today’s announcement is evidence of this commitment. We’re excited to bring commission-free cryptocurrency trading to New York, and look forward to coming to more states soon.”
Robinhood Crypto is now available in Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Idaho, Indiana, Illinois, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, and Wyoming.