A trading platform for consignment-free trading in cryptocurrency Robinhood plans to conduct an Initial Public Offering (IPO), for which the company is currently looking for a new chief financial officer.
Speaking at the TechCrunch conference in San Francisco on September 6, 2018, Robinhood CEO Baiju Bhatt said that the startup was actively looking for a CFO and was undergoing a series of checks by the SEC and FINRA to ensure compliance with regulatory requirements.
Bhutt said at the time that thanks to the new capital, the company was striving to “become the world’s largest crypto platform” by the end of 2018.
Robinhood has three monetization schemes, of which it generates revenue: a startup takes a percentage of the funds stored in user accounts, sells a stream of warrants to exchanges that want more liquidity, and sells premium subscriptions.
Recently, Robinhood intends to obtain a banking license to provide customers with services such as the opening and maintenance of savings accounts.