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The New York Department of Financial Services (DFS) has granted BitLicenses to stock and crypto trading app Robinhood, as well as LibertyX, a company that allows customers to purchase Bitcoin using debit cards.
The BitLicence approval for both companies will allow operations to commence in the State of New York, who currently has some of the toughest regulations.
Robinhood will be looking to expand their offering in the State, with the app surpassing one million sign ups for early access last year. Robinhood are also currently looking at launching an initial public offering following a successful $363 million raised in May 2018.
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The BitLicense will now allow Robinhood to trade BTC, ETH, BCH, and LTC in the State of New York.
LibertyX is currently the largest nationwide network for buying bitcoin, allowing customers to buy Bitcoin instantly at thousands of local stores. LibertyX can now move into the State of New York following the approval of their BitLicense.
DFS have now granted just 16 BitLicenses to crypto related companies since it's inception in 2015.
Read More: New York state grants virtual currency license to Bitcoin ATM firm Coinsource
Robinhood Crypto. New York. Soon.
— Robinhood (@RobinhoodApp) January 24, 2019
We just received our BitLicense and money transmitter license for NY. Expect us to roll out crypto there over the coming months.https://t.co/mkltwqt182 pic.twitter.com/iytfhtoNTd
We just received the BitLicense and are excited to announce LibertyX is coming to New York! Soon you will be able to purchase bitcoin from your neighborhood ATM. pic.twitter.com/4f2uRTE2MI
— LibertyX (@libertyx) January 24, 2019
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