Robinhood might be facing some new competition in only a matter of months, as major US crypto exchanges explore the possibility of offering their customers stock trading.
And Bitstamp USA CEO Robert Zagotta said in a Jan 14with Bloomberg that the exchange is considering entering stocks, non-fungible tokens and crypto derivatives.
Offering low cost equities trading would allow the two crypto exchanges to attract a similar user base of meme stock style investors as Robinhood, which offers both crypto and stock trading. The additional competition is unlikely to be welcomed by Robinhood at this point. With meme stock and crypto trading cooling down, the American financial services company closed at an all-time low of $15.30 on Jan 13.Robinhood is approaching the market from the opposite direction to the two exchanges, beginning with stocks and moving into crypto.
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