Founded in 2013 by Vladimir Tenev and Baiju Bhatt, Robinhood is a no-commission brokerage company based in Menlo Park, California. Robinhood offers a smartphone app that allows individuals to invest in public companies, exchange-traded funds listed on the U.S. stock exchanges, trade options and invest in bitcoin and other cryptocurrencies without paying a commission.
Robinhood formally launched cryptocurrency trading in 2018 by allowing users in 5 different US states to trade 14 cryptocurrencies. Later that year, the company announced a $363 million funding round with the aim of making Robinhood the largest cryptocurrency trading platform. In 2019, Robinhood received their BitLicense for New York State, allowing users to trade 7 different cryptocurrencies.
Authored by John Metais. Image via Shutterstock.