Robinhood Restores Algorand Trading for Millions of U.S. Retail Users
HOOD•Robinhood has restored full U.S. retail trading for the Algorand token, ending a freeze initiated by the SEC’s 2023 enforcement wave that restricted it to view-only status. The relisting under its New York DFS license signals reduced compliance risk and expands crypto offerings to millions of U.S. users.
1. Listing Resumption Details
Robinhood has reactivated full U.S. retail trading for the Algorand token after maintaining it in view-only mode since June 2023. This change allows users across all 50 states to execute spot trades under the platform’s existing New York State Department of Financial Services license.
2. Regulatory Overhang History
In June 2023, the SEC flagged Algorand as an unregistered security, prompting Robinhood to suspend trades and display only price data. The regulatory environment has since softened, easing the compliance risks that initially triggered the freeze.
3. Strategic Crypto Offering Impact
Restoring Algorand trading bolsters Robinhood’s crypto product suite and could drive incremental transaction revenues from millions of retail users. The move underscores the firm’s confidence in its internal legal assessments and licensing framework.
4. Bitstamp Infrastructure Advantage
Robinhood’s recent acquisition of Bitstamp provides established infrastructure and liquidity rails for Algorand trading. Bitstamp by Robinhood had already supported ALGO/USD markets for years, smoothing the integration into the U.S. app.
