Robinhood is now in Ohio bringing the number of states that the cryptocurrency and stocks trading app is currently available in to 25.
In a tweeted statement, the trading startup indicated that Ohioans can now trade various cryptocurrencies commission-free on the Robinhood app. Some of the cryptocurrencies that the users of the app can trade include bitcoin, ethereum, litecoin, bitcoin cash, ethereum classic and dogecoin.
Earlier this month, the trading startup was launched in Rhode Island (October 2), Tennessee (October 5), Arkansas (October 5). Towards the end of last month the trading app was unveiled in Oklahoma. Prior to that, as CCN reported, it was also made available in the Last Frontier state, Alaska.
25 States and Counting
Other states which already enjoy the commission-free crypto trading services of Robinhood include Arizona, California, Colorado, Florida, Georgia, Indiana, Iowa, Massachusetts, Michigan, Mississippi, Missouri, Montana, New Jersey, New Mexico, Pennsylvania, Texas, Utah, Virginia and Wisconsin.
The move to Ohio comes in the wake of the stocks and trading startup announcing the launch of its own clearing system which had been in development for around two years.
Prior to developing its proprietary clearing system, Robinhood which now boasts of more than six million customers had been depending on a third party. According to Robinhood, creating the proprietary clearing system was the effort of a team consisting of close to 100 people. The trading startup also had to obtain licenses from the Depository Trust & Clearing Corporation (DTCC), the Financial Industry Regulatory Authority (FINRA) and the Office of the Comptroller of the Currency (OCC).