Robinhood and LibertyX got a BitLicense

Robinhood and LibertyX got a BitLicense25.01.2019

Robinhood and LibertyX got a BitLicense

According to information released this Thursday by the New York State Department of Financial Services (NYDFS), the regulator has licensed BitLicense to the popular Robinhood securities and cryptocurrency trading application. Now the platform has the legal right to provide cryptoactive services in New York.

Due to this step, users of the application from New York now can trade seven cryptocurrencies, among which are BTC, BCH, ETH and LTC. In addition, the department clarified that on the same day the developer Robinhood received a license to provide services related to the implementation of remittances.

Last June, the information portal Bloomberg, citing anonymous sources, reported that Robinhood was discussing with the regulators the issue of obtaining a banking license. In February 2018, the application began providing cryptocurrency trading services without commission costs, and in May, platform representatives reported that Robinhood was able to raise $ 363 million, which will be used to expand its cryptocurrency application.

In addition, Reuters said yesterday that the capitalization of Robinhood is about $ 5.6 billion. Earlier, TechCrunch wrote that the company could hold an initial public offering (IPO).

LibertyX has also become a happy BitLicense licensee. Now it is the only licensed company in New York that provides the opportunity to purchase cryptocurrency using debit cards through ordinary ATMs.

LibertyX reports on its own website that they installed their first crypto machine back in 2014. Today, the company serves several thousand points, including traditional ATMs.

If we count Robinhood and LibertyX, now the number of cryptocurrency companies that have the legal right to work in New York is 16. It was first granted to BitLicense in 2015. The community initially criticized such a decision, because the conditions seemed too harsh. Many companies even refused to work in New York. Others fulfilled all the conditions and obtained a license. Among them are companies such as Circle, Genesis Global Trading and Square.

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