Robinhood enters Canada with focus on cryptocurrency. What to know
Robinhood has officially entered the Canadian market by acquiring cryptocurrency trading company WonderFi. This acquisition also includes ownership of platforms Bitbuy and Coinsquare, with plans to invite users to the Robinhood app soon. The focus of Robinhood's services in Canada will be exclusively on cryptocurrency for the time being.
- ▪Robinhood acquired Canadian cryptocurrency trading company WonderFi on June 1.
- ▪The acquisition includes ownership of platforms Bitbuy and Coinsquare.
- ▪Robinhood's services in Canada will initially focus solely on cryptocurrency.
Opening excerpt (first ~120 words) tap to expand
Robinhood, a U.S. digital investing platform, officially acquired Canadian cryptocurrency trading company WonderFi on June 1, which also means it now owns cryptocurrency platforms Bitbuy and Coinsquare. Robinhood said in a release that users on those apps will be invited to use the Robinhood app once it becomes available in the coming weeks.With the rise of digital investing tools, there is also growing questions and concerns about whether apps could encourage some investors to take more risks.Here’s what to know. What is Robinhood? Robinhood is similar to WealthSimple, Questrade and many other apps that allow users to invest their money through self-managed or managed accounts.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Global News.
Discussion
0 commentsMore from Global News
