Media: Virtu Financial, a market maker, intends to become the Robinhood of the crypto market

The leading U.S. market maker Virtu Financial plans to expand its work with cryptocurrencies. This was reported by The Block.

At the FIA Boca conference, dedicated to the development of futures trading, the company unveiled a roadmap for entering the crypto market. According to the presentation, Virtu plans to build a business model analogous to Robinhood.

This investment app for securities and cryptocurrencies has gained popularity due to zero commissions. Instead, Robinhood earns through the so-called payment-for-order-flow model. A client’s order is routed to an executing broker, which profits from the spread and returns part of its revenue to the client.

According to The Block, Virtu Financial has experience market-making on crypto exchanges, including Coinbase, Gemini and Bullish. The firm has also acted as a liquidity provider for derivative instruments based on digital currencies.

Representatives from Virtu who attended the conference backed FTX’s proposals for developing the U.S. crypto derivatives market, notably direct client clearing and dynamic adjustment of the liquidation threshold.

Earlier at FIA Boca, the Coinbase exchange also outlined its strategy for developing the U.S. cryptocurrency futures industry.

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