Online broker Robinhood has announced the takeover of Cove Markets, a cross-exchange digital asset trading platform, to grow its app.
Thrilled to welcome the @CoveMarkets team to Robinhood! Their incredible experience in trading execution and crypto market infrastructure will help us to build an even better crypto platform for all our Robinhood crypto traders. https://t.co/m4Wnl9Ojv3
– Christine (Hall) Brown (@christine_hall) December 14, 2021
Terms of the deal were not disclosed.
“A rich experience [Cove] in the execution of transactions and market infrastructure will create more efficient trading opportunities “, – stated Christine Brown, COO Robinhood Crypto.
Platform co-founders Scott Knudsen and Victoria Glava, as well as the project team, will be part of the Robinhood staff.
Cove Markets launched in 2018 to help users manage their accounts and use portfolio building tools.
Recall that in December, Robinhood announced a partnership with the analytical platform Chainalysis before launching its own cryptocurrency wallet. In September, an online broker confirmed testing a digital asset storage application. According to the company, the waiting list for a cryptocurrency wallet under development has exceeded one million users.
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