“Robinhood acquired a cross exchange crypto trading firm Cove Markets to help Robinhood in ensuring quality executions for customers in the Crypto Markets.”
The well renowned ‘no trading fee’ app Robinhood on Tuesday acquired a cross exchange crypto trading firm ‘Cove Markets’. The announcement was made through a blogpost by Robinhood though the terms of the acquisition were not disclosed by the time of writing this news.
As per the post, along with the complete team of Cove Markets, Cove’s co-founders Scott Knudsen and Victoria Glava will join the Robinhood’s crypto team for further strengthening the crypto trading infrastructure at Robinhood. The focus of this execution will be “ensuring the quality executions for customers in the crypto markets” claimed Robinhood.
Cove Markets was launched 3 years ago to help the users of the trading market to help manage their accounts and to build their portfolio. The experience and skills of the Cove’s team in trading execution and crypto market infrastructure will help Robinhood to develop a more powerful trading infrastructure that will ensure competitiveness of the app among its competitors. Christine Brown, CEO of Robinhood is very excited to announce this acquisition and hopes that this execution will provide a boost to Robinhood’s growth in the crypto industry.
Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investment.
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