Stock Trading App Robinhood Wants to Become a Bank
Robinhood stock trading app: A National Banking Charter is attractive to many financial tech companies but alas! it is very hard to get. That hasn’t stopped California-based stock trading app Robinhood from approaching regulators at the Office of Comptroller of the Currency (OCC), with an ambition to acquire necessary licenses allowing it to receive a national banking charter. This would effectively class the platform as a bank.
The idea is to become a more official banking platform, covering all bases; from cryptocurrency to stocks and fiat accounts for its customers. Currently, Robinhood boasts a 4 million …
Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.