Digital brokerage Robinhood has launched micro futures contracts for Bitcoin (BTC), Solana (SOL), and XRP (XRP), giving crypto merchants the flexibility to commerce derivatives with considerably decrease capital necessities.
The brand new providing was formally unveiled in the USA on Friday, increasing on Robinhood’s present crypto futures merchandise for Bitcoin and Ether (ETH).
Micro futures contracts are smaller variations of normal futures contracts, permitting merchants to invest on an asset’s worth actions with a a lot decrease upfront funding.
Robinhood, which has greater than 25 million funded buyer accounts, introduced its entry into crypto futures in January. On the time, the corporate mentioned the rollout would initially be restricted to Bitcoin and Ether.
Nonetheless, Robinhood’s growth into spot cryptocurrency buying and selling started in 2018. Since then, its footprint within the sector has expanded.
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Robinhood expands crypto choices by means of main acquisitions
A method Robinhood has strengthened its crypto choices is thru strategic acquisitions of main gamers within the area.
Earlier in June, the corporate introduced it had accomplished a $200 million acquisition of crypto exchange Bitstamp, and with it, secured greater than 50 licenses and registrations worldwide within the course of.
In Could, Robinhood also acquired WonderFi — a Canadian firm that operates regulated crypto buying and selling platforms — for $179 million. WonderFi owns Bitbuy and Coinsquare, collectively managing billions of {dollars} in buyer belongings.
These offers mirror the rising M&A exercise within the crypto sector, highlighted by blockbuster transactions like Coinbase’s $2.9 billion acquisition of Deribit and Ripple’s $1.25 billion takeover of prime broker Hidden Road.
Giant M&A offers spotlight a rising consolidation development within the crypto business, with a number of corporations combating difficult macroeconomic circumstances and jittery markets, in keeping with Santora lending head Patrick Heusser.
These components are partly liable for the notable downturn in crypto enterprise capital offers, with solely 62 offers accomplished in Could, in keeping with RootData.
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