Robinhood Markets is banking on a major expansion of its cryptocurrency trading business under a more supportive Trump administration as it continues to diversify beyond traditional brokerage services.
The Menlo Park, Calif.-based company made its name during the craze over meme stocks such as GameStop, but in recent years has moved into retirement accounts, offered contracts that allowed investors to bet on the outcome of the U.S. presidential election and released a credit card. Last year it agreed to acquire crypto exchange Bitstamp in a $200 million deal designed to expand the crypto offerings it introduced in 2018 and attract institutional clients.
