The company plans to use the project’s tools to improve its own services.
Online broker Robinhood purchased the Cove Markets trading platform. Information about the deal appeared on the company blog.
- Robinhood will be able to use project development to improve its platform. For example, the company’s tools will help online brokers expand the list of services to interact with digital assets.
- Among other things, Robinhood will be able to integrate Cove Markets into its development platform for one-time account management across multiple trading platforms. Also, the project tool allows you to collect data sets, the study of which helps analyze market positions. A series of developments in trading platforms opens up opportunities for online brokers to increase their competitiveness in the digital asset market.
- Cove Markets co-founders Scott Knudsen and Victor Glava will join the Robinhood crypto team. Representatives of online brokers believe that developers will help online brokers strengthen their position in the industry.
- Robinhood draws attention to the fact that both projects pursue the same goal – to simplify investing in cryptocurrencies and make the process cheaper. Joint efforts, according to Robinhood, will allow companies to get work done faster.
We will remind, earlier on Bloomberg there was information that Robinhood clients will soon be able to send cryptocurrencies as gifts.