• Robinhood has launched a micro futures contract between XRP and Solana.
• This enables merchants to entry crypto derivatives with low capital necessities.
• The transfer relies on present futures merchandise from Bitcoin and Ethereum launched earlier this 12 months.

Robinhood has expanded its Crypto Derivatives lineup by launching new micro futures contracts for XRP and Solana (SOL) along with Bitcoin.

This new product supplies retail traders with entry to crypto futures buying and selling, presents considerably decrease capital necessities, and opens the door to a extra versatile and inexpensive technique to speculate about crypto belongings.

The launch grew to become official within the US on Friday. It’s primarily based on Robinhood’s first foray into Crypto Futures, which started in January with Bitcoin (BTC) and Ethereum (ETH) merchandise.

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What are micro futures?

Microfutures are a small model of a regular futures contract. They’ll wager that on a regular basis merchants will wager on the worth motion of their belongings with out the necessity for a considerable amount of collateral. This type reduces the entry barrier for retail traders whereas nonetheless offering publicity to the worth dynamics of risky cryptocurrencies.

By introducing micro futures to main altcoins corresponding to XRP and Solana, Robinhood is straight difficult the establishment’s first mannequin within the Crypto Derivatives house, bringing these highly effective instruments to a big retail person base.

Robinhood’s strategic crypto push

The transfer is the newest step in Robinhood’s aggressive enlargement into digital belongings. The platform, which boasts greater than 25 million funded buyer accounts, started providing Spot Crypto transactions in 2018 and has since grown steadily its crypto infrastructure.

This month, Robinhood accomplished its $200 million acquisition of Bitstamp, one of many oldest crypto exchanges on the earth. The settlement offers Robinhood entry to greater than 50 world licenses and registrations, considerably strengthening its regulatory place.

Only a month in the past, in Might, the corporate acquired Canadian company enterprise regulation platform Bitview and Coinsquare Wonderfi for $179 million, including billions of buyer belongings to its portfolio.

Robinhood’s newest transfer comes amid a wave of mergers and acquisitions within the crypto trade. Notable latest transactions embody Coinbase’s $2.9 billion deribit and Ripple’s $1.25 billion buy of Prime Dealer Hidden Highway.

Associated: Is the launch of OTC on Hidden Highway reasoning for Ripple’s bullish outlook?

In response to Santora Lending Head Patrick Heusser, trade consolidation is a response to “difficult macroeconomic situations and unstable markets.”

With the launch of XRP and Solana Micro Futures, Robinhood has established itself as a retail-friendly chief in crypto derivatives. Along with latest acquisitions, the corporate is constructing a globally compliant crypto ecosystem. This goes far past easy transactions.