Robinhood announced yesterday that it has expanded its services to Hawaii, Puerto Rico and the US Virgin Islands.
The move follows a major regulatory change Hawaii’s Department of Commerce and Consumer Affairs (DCCA), which no longer requires crypto services to have a money transmitter license to operate in the state.
This is a major victory for the industry, as Hawaii has some of the strictest financial regulatory policies in the country, along with states such as California and New York.
According to a Bloomberg article, Robinhood is considering using the regulatory licenses held by Bitstamp to offer cryptocurrency futures trading to customers in the US and Europe.
Robinhood had previously agreed to purchase Bitstamp for $200 million to offer services to institutional clients. However, the acquisition has not yet been finalized and is expected to close in 2025.