Robinhood has announced the acquisition of Cove Markets, a cross-exchange trading platform, to enable customers to manage their crypto accounts seamlessly.
Cove’s co-founders, Scott Knudsen and Victoria Glava, and the start-up’s team would join The California-based financial company in the deal.
Robinhood says that the new synergy would facilitate quality execution from clients in the digital asset sector.
The Chief Operating Officer at Robinhood, Christine Brown, says that Cove’s expertise in cryptocurrency market infrastructure is valuable to the firm in creating stronger trading capabilities. She adds that the same is key in staying ahead of the competition and offering better services.
Cove Markets equips traders with tools for cryptocurrency portfolio management. The firm launched three years ago.
Robinhood was launched in 2018 to boost the uptake of cryptocurrencies and has no commission fees.