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Robinhood Crypto Platform Launches Operations In New York

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After recently securing the BitLicense and a money transmitter license to operate in New York, Robinhood Crypto, a commission-free stock and cryptocurrency trading app, rolled out operations for customers in New York.

In a blog post, the company said New Yorkers can now invest in cryptocurrencies such as Bitcoin on Robinhood Crypto. The app currently offers trading in seven cryptocurrencies - Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), and Dogecoin (DOGE).

Robinhood said customers can also track price movements and news for these seven cryptocurrencies as well as ten additional cryptocurrencies. With the addition of New York, Robinhood Crypto is now available in 39 states in the U.S.

Over the next couple of years, Robinhood is reportedly looking to be a full-service consumer finance company.

It was in January last year that the company announced Robinhood Crypto, its digital currency platform, which allows customers to monitor and invest in cryptocurrencies, options, stocks, and ETFs, all on the same platform.

In January 2019, Robinhood Crypto was granted BitLicense, the license of virtual currency activities, by the New York Department of Financial Services (NYDFS) to offer services for buying, selling, and storing the seven virtual currencies in the state of New York.

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