Robinhood crypto exchange planning initial public offering

September 07, 2018
Chris Wheal

Robinhood, the stock and cryptocurrency trading platform, is planning an initial public offering according to an interview with TechCrunch on Thursday.

Robinhood corporate logo: Wikimedia Commons

Chief executive Baiju Bhatt told TechCrunch the trading platform start-up was now looking for a chief financial officer as it undergoes a series of regulatory audits by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to ensure compliance.

The exchange began its cryptocurrency trading offering in February, quickly gathering momentum and attracting more than a million clients in its early access period.

There then followed a series of funding rounds, after which the company was valued at $5.6bn, making it the second most valuable fintech start up in the US.

Currently, the platform boasts around 5 million users conducting regular cryptocurrency trades.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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