The popular commission-free trading platform Robinhood (NASDAQ: HOOD) is preparing to launch its crypto trading services in the EU and its brokerage operations in the U.K. in the next few weeks.

Caitlin Long’s cryptocurrency-friendly bank Custodia Bank has launched a Bitcoin custody service targeting entities such as corporate treasurers, fiduciaries, investment advisers, and fund managers.

Stablecoin issuer Circle, the firm behind USDC, is reportedly considering going public in early 2024 as according to sources familiar with the situation it’s in discussions with advisers to prepare for a potential initial public offering (IPO).

Top stories in the Crypto Roundup today:

• Robinhood to Launch Crypto Trading in EU and Brokerage in UK
• Custodia Bank Launches Bitcoin Custody Service
• Stablecoin Issuer Circle Eyes IPO in early 2024
• US Leads Global Digital Asset AUM With $24.5 Billion, Followed by Canada

Robinhood to Launch Crypto Trading in EU and Brokerage in UK

The popular commission-free trading platform Robinhood (NASDAQ: HOOD) is preparing to launch its crypto trading services in the EU and its brokerage operations in the U.K. in the next few weeks.

In its third-quarter earnings statement, Robinhood said that with “an experienced team in place, we will soon launch brokerage operations in the U.K.,” adding that as another step in its global expansion, it’s “planning to launch crypto trading in the EU following our U.K. launch.”

As part of its regional expansion plans, Robinhood said during the summer that it was looking for U.K. staff. The move comes as some cryptocurrency firms stopped servicing the country following the launch of new rules requiring crypto firms to provide clear risk warnings and system changes.

Robinhood also reported in its earnings statement that its crypto revenue dropped 55% to $23 million in the third quarter compared to the same period last year.

Custodia Bank Launches Bitcoin Custody Service

Caitlin Long’s cryptocurrency-friendly bank Custodia Bank has launched a Bitcoin custody service targeting entities such as corporate treasurers, fiduciaries, investment advisers, and fund managers.

Custodia Bank started rolling out its custody services in October 2023 following a green light from the Wyoming Division of Banking. The bank’s website notes it operates as  Custodia Digital Services in several states including Washington, Minnesota, and Texas, and as Custodia Bank in states like California and Wyoming. It caters to businesses within its licensed territories that meet the bank’s onboarding criteria.

The bank emphasizes it’s a non-lending institution created by Bitcoin enthusiasts, providing segregated custody accounts on a bespoke Bitcoin custody platform.

Founded in 2020, Custodia Bank aims to serve as a conduit between digital assets and the traditional U.S. dollar payment infrastructure, while also acting as a custodian for digital assets.

Stablecoin Issuer Circle Eyes IPO in early 2024

Stablecoin issuer Circle, the firm behind USDC, is reportedly considering going public in early 2024 as according to sources familiar with the situation it’s in discussions with advisers to prepare for a potential initial public offering (IPO).

The decision to go public isn’t final and Circle may choose not to pursue a listing. Circle’s valuation in an IPO would be unclear, but it was worth $9 billion when it attempted to merge with a blank-check company in 2022.

A Circle representative noted that “becoming a U.S.-listed public company has long been part of Circle’s strategic aspirations,” but added the company doesn’t “comment on rumors.”

The company ended a deal to go public through a merger with Concord Acquisition, a blank-check firm headed by former Barclays CEO Bob Diamond.

Circle has received funding from investors such as Goldman Sachs Group, General Catalyst Partners, BlackRock, Fidelity Management and Research and Marshall Wace, and had a $7.7 billion valuation in a 2022 funding round.

US Leads Global Digital Asset AUM With $24.5 Billion, Followed by Canada

The United States has maintained its dominance in terms of assets under management (AUM) by domicile in October, experiencing a 3.22% rise to hit $24.5 billion and securing 77.3% of the overall market share. In Canada, AUM grew to $2.03 billion, a surge attributed primarily to the strong performance of products such as Evolve's EBIT, Purpose Invest's BTCC, and 3iQ CoinShares' BTCQ.

Germany also witnessed a significant increase of 16% in AUM, climbing to $698 million, with the growth propelled by offerings like the ETC Group's BTCE, which alone expanded by 21.0% to $552 million.

Dig deeper into the world of cryptocurrency trading with CCData’s latest Digital Asset Management Review.

State of the Crypto by Top Tier Exchange Volume

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