2018-6-21 18:55 |
Stock and crypto trading app Robinhood plans to offer banking services to its 4 mln users, Bloomberg reported June 20, citing anonymous sources.
Robinhood, which in February began allowing zero-fee cryptocurrency trading through its Robinhood Crypto tool, is currently in “constructive” talks with the U.S. Office of the Comptroller of the Currency (OCC) to position itself as a banking services provider.
The move comes a month after the company announced it had raised $363 mln in funding to expand Robinhood Crypto to the entire U.S. market.
Goldman Sachs-backed Circle, which in February acquired cryptocurrency exchange Poloniex, revealed it was also pursuing a banking licence with the OCC earlier this month.
Coinbase, the largest U.S. crypto exchange and wallet provider, also began talks with the OCC regarding obtaining a federal banking licence and its “business model,” Cointelegraph reported in May.
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