Robinhood has announced that it will now provide support for Bitcoin Cash and Litecoin trading on its Robinhood Crypto platform. In a blog post published on Thursday, the company suggested that the decision was made in response to customer interest in digital currencies other than Bitcoin and Ethereum.
Robinhood Crypto’s commission-free trades are currently available to residents of 17 U.S. states, including AZ, CA, CO, FL, IN, MA, MI, MS, MO, MT, NJ, NM, PA, TX, UT, VA, and WI. According to the company, there are plans for additional coin offerings in the future, as well as coin transfer support.
The company’s post also suggested that customer enthusiasm had helped to fuel rapid growth in recent months:
“Together, we’ve reached over 5 million people across the entire Robinhood platform, and we look forward to sharing Robinhood with millions more so everyone can participate in the financial system.”
Robinhood’s crypto platform launched in February 2018, providing customers in five states – CA, MA, MO, MT, and NH - with trading support for Bitcoin and Ethereum. In the last six months, the company has increased its user base by some 2 million customers, and now boasts more customer accounts than eTrade.