Robinhood Lists BNB Token; Explores UK/EU Prediction Markets

Robinhood has added support for Binance’s native token, BNB, granting its 27 million funded customers access to the fourth-largest cryptocurrency by market capitalization. The listing comes after a significant rally that saw BNB's market value approach $150 billion, with the token trading near $1,071.

This move, along with Coinbase recently adding BNB to its own listing roadmap, indicates a notable shift in the stance of U.S. exchanges. These platforms have historically been cautious regarding Binance-affiliated tokens due to regulatory uncertainty.

The addition expands Robinhood's crypto offerings to over 40 tokens. The company's digital asset division continues to be a key area, processing approximately $8.6 billion in crypto trading volume in August.

Separately, Robinhood is reportedly in discussions with regulators in the United Kingdom and the European Union regarding a potential expansion of its prediction markets business. The talks are said to focus on how event-based trading products could be structured under different regulatory frameworks.

In the U.S., these contracts are regulated as futures, but in other regions, they may be classified as gambling. Robinhood, which entered the UK and EU markets in late 2023, recently announced that its prediction markets product had surpassed four billion contracts traded globally.