Domo signs strategic collaboration agreement with AWS for AI solutions
Robinhood (NASDAQ:HOOD), a widely-used stock trading and investing platform, is set to introduce futures trading for a range of commodities and financial instruments, including bitcoin, oil, and gold. The upcoming service will also cover S&P 500, USD, and EUR futures, aiming to provide customers with a more diverse array of trading options.
The move is part of Robinhood’s broader strategy to expand its cryptocurrency-related offerings. Earlier in April, the platform began offering its users the ability to trade the Official Trump memecoin, despite having a more limited selection of trading options compared to many of its rivals. After the November election win of Donald Trump, Robinhood added several popular tokens to its platform, such as SOL, ADA, XRP, and PEPE.
However, Robinhood has faced regulatory challenges in the past year. In 2023, the platform ceased support for solana, cardano, and XRP following actions by the U.S. Securities and Exchange Commission (SEC) against firms like Coinbase (NASDAQ:COIN) for allegedly engaging in the sale of unregistered securities.
The announcement did not specify an exact launch date for the new futures trading service but indicated that it would be available soon with an intuitive trading ladder interface, designed to enhance the trading experience on the platform.
Robinhood’s expansion into futures trading comes as the platform looks to diversify its offerings and provide additional investment opportunities in the crypto space. This development is set to offer Robinhood customers new avenues for trading and investment, although the platform has not yet provided further details on the specific features or launch timetable for the service.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.