Robinhood has bought cross-exchange trading firm Cove Markets to improve customers’ ability to manage their crypto accounts, according to a blog post by Robinhood on Tuesday.

  • Cove’s co-founders Scott Knudsen and Victoria Glava, and the Cove Markets team will become part of Robinhood’s crypto team after the acquisition.
  • Robinhood stated that the crypto team would concentrate on getting quality executions for customers in the crypto markets.
  • Christine Brown, Chief Operating Officer of Robinhood Crypto, stated that Cove’s experience in trading execution and crypto market infrastructure would help to develop more powerful trading capabilities.

Cove Markets was started three years ago to assist users in managing their accounts and using tools to create their portfolios. HOOD down -2.89%