Cove Markets to join Robinhood Crypto in latest acquisition
Cove Markets, an API platform that permits customers to commerce throughout a number of centralized exchanges and handle combination monetary information, will change into a part of Robinhood Crypto, as announced by the low cost brokerage late Tuesday. Merchants and traders can join as much as seven exchanges, together with Coinbase Professional, Kraken and Bitfinex, utilizing Cove Markets to commerce over 50 main currencies and altcoins.
The 2 buying and selling corporations stated they had been planning to extend the quantity of order routing and execution on Robinhood with the acquisition. Christine Brown, chief working officer of Robinhood Crypto, made the next remarks relating to the event:
“The Cove Markets workforce’s wealth of expertise in buying and selling execution and crypto market infrastructure will assist us to construct extra highly effective buying and selling capabilities, bringing the advantages of higher competitors within the crypto markets to our prospects.”
Thrilled to welcome the @CoveMarkets workforce to Robinhood! Their unbelievable expertise in buying and selling execution and crypto market infrastructure will assist us to construct a fair higher crypto platform for all our Robinhood crypto merchants. https://t.co/m4Wnl9Ojv3
— Christine (Corridor) Brown (@christine_hall) December 14, 2021
Robinhood has taken a pointy give attention to the cryptocurrency trade lately. The day prior, it announced a partnership with blockchain analytics agency Chainalysis to offer information and instruments for the rollout of its native crypto pockets. At the moment, the waitlist for such a feature, which is anticipated to launch early subsequent yr, has grown to over 1.6 million. However its inventory traders have had a troublesome yr. Shares are down nearly 70% since August highs after the corporate’s preliminary public providing.
