Robinhood expands perpetual futures offering in – Money News
July 1 (Reuters) – Robinhood mentioned on Wednesday it plans to launch crypto trading in the UK and broadened its perpetual futures offering in Europe past cryptocurrencies.
Here are some particulars:
• Eligible European buyers will now have the ability to commerce perpetual futures tied to commodities, ETFs and international exchange markets, together with gold, silver, crude oil and the euro-dollar pair, with leverage of up to 10 occasions and round the clock trading, the company mentioned.
• Perpetual futures, generally often called “perps,” are futures contracts with no expiration date and have drawn important consideration in the U.S. after the CFTC in May permitted their trading on home exchanges.
• Separately, Robinhood mentioned it plans to roll out crypto trading for the UK because it seeks to construct an all-in-one investing platform for the area.
• The company additionally launched Robinhood Earn, a lending product that enables eligible U.S. customers to lend their dollar-backed stablecoin, USDG, by means of a self-custody wallet at an estimated 7% annualized return.
• Robinhood Earn contains insurance coverage for sure losses stemming from cyberattacks or smart-contract exploits, with the protection organized by means of Lloyd’s of London and RELM.
• The company additionally introduced its entry into Canada following its acquisition of WonderFi and mentioned it had acquired a capital markets companies licence in Singapore.
• The trading platform, which serves more than 28 million clients throughout 38 nations, has expanded into more financial companies in current years to cut back its reliance on trading exercise.
• The company posted weaker-than-expected transaction income for the primary quarter amid crypto-driven volatility.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Leroy Leo)
Stay forward of the curve with the newest developments in the finance world! Our web site is your final vacation spot for finance information, offering complete updates, in-depth market evaluation, and professional insights into the fast-evolving financial panorama. We carry you each day protection on every part from modern investment methods and market trends to main bulletins which can be reshaping the financial industry.
Discover how these trends are remodeling the economic system! Visit us recurrently for partaking and informative content material by clicking right here. Our meticulously curated articles discover market actions, strategic investment alternatives, and key milestones in at present’s dynamic finance area.
