Platform for investing in securities, options and exchange-traded funds Robinhood in January 2018 and has announced the intention to launch trading of cryptocurrencies. After six weeks of working with digital money the startup has received $ 350 million from the Fund DST Global Yuri Milner, writes CNN.
Operations with cryptocurrency without a fee
Assessment of a startup followed by a round of investment will grow four times, to 5.6 billion dollars. A year ago, when Milner and other investors invested in the company $176 million, its estimate was 1.3 billion dollars.
The investment will also allow the company to enter the top 30 most expensive technology companies in the U.S., the newspaper notes. Robinhood representatives declined to comment.
The main distinguishing feature of Robinhood is the absence of commissions for transactions — the company operates on a subscription model, which costs from $6 to $200 a month. A premium subscription allows you to make transactions after the end of trading, and to borrow more money to trade ($1000-$50000). Now at startup about 3 million customers, the number of paid subscribers is not disclosed.
As notes the edition, the service will not just be competing with billionaires Coinbase, and will provide access to the crypt millions of customers who already trust her. Furthermore, innovation in the form of lack of interest may set a new trend: in future, traders may simply not notice the decline in commissions.
Subscribe to our channel in the Telegram. It is warm from the love of coins.