Robinhood’s Free Crypto Trades Powered by Chicago’s Jump TradingMore
(Bloomberg) — Robinhood Markets Inc.’s move to add cryptocurrencies trading last year was certainly a popular one, helping the maker of the free trading app double its customer base. But it needed help to pull it off.
With many of the major trading houses wary of crypto, the question remained how the fintech firm was going to buy and sell Bitcoin, Ether and other digital assets on behalf of customers. For that, it’s turned to Jump Trading LLC, a little-known but profitable Chicago trading firm that’s also benefited from being an early mover on cryptocurrencies, according to two people familiar with the matter who asked not to be identified discussing private matters.
Jump’s role, which hasn’t been previously