Robinhood launched micro contracts on Bitcoin.BTC), Solana (SOLThe XRP currency (XRP), giving crypto traders the ability to trade derivatives with significantly lower capital requirements.
This new product was launched in the United States officially on Friday. It expands on Robinhood’s existing Crypto Futures Products for Bitcoin and Ether.ETH).
The micro futures contract is a smaller version of the standard futures contract, which allows traders to make speculative bets on an asset’s price movement with much less upfront capital.
Robinhood has announced the launch of its new Robinhood app, which will allow customers to fund their accounts with more than 25,000,000 dollars. entry into crypto futures in January. At that time, the company stated the launch would be initially limited to Bitcoins and Ether.
Robinhood began its expansion in spot crypto trading only in 2018. Robinhood’s footprint has grown since then.
Related: US futures hit record high, setting Bitcoin up for new peak: Analysts
Robinhood increases its crypto offering through acquisitions
Robinhood’s cryptocurrency offerings have been enhanced by its strategic acquisitions.
The company had announced earlier in the month that it completed its a $200 million acquisition of crypto exchange BitstampIn the end, more than fifty licenses and registrations were obtained worldwide.
This May Robinhood also acquired WonderFi — a Canadian company that operates regulated crypto trading platforms — for $179 million. WonderFi, which owns Bitbuy & Coinsquare and manages billions in client assets collectively, is the largest crypto trading platform.
These deals reflect the growing M&A activity in the crypto sector, highlighted by blockbuster transactions like Coinbase’s $2.9 billion acquisition of Deribit Ripple has $1.25 billion in revenue takeover of prime broker Hidden Road.
Large M&A deals highlight a growing consolidation trend in the crypto industry, with several companies struggling with challenging macroeconomic conditions and jittery markets, according to Santora lending head Patrick Heusser.
The notable drop in the number of crypto venture capital investments in May was due to these factors. Only 62 transactions were concluded in that month. RootData.
Related: Crypto VC deals hit 2025 low despite $909M raised in May
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Source: cointelegraph.com
