Jay-Z Invest in Robinhood Crypto Trading Platform

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Rapper Jay-Z performs onstage
Rapper Jay-Z performs onstage (Photo Credit: www.shutterstock.com)

Renowned rap star and producer Jay-Z has invested in Robinhood’s cryptocurrency trading platform.

Shawn Carter, better known as Jay-Z, through his investment company Arrive has invested in Robinhood, the popular financial services company whose mission is to democratize access to America’s financial system.

Launched in 2015 by Vlad Tenev and Baiju Bhatt, Robinhood’s investment platform allows trade of U.S. stocks, ETFs, options, and soon, cryptocurrencies, commission-free.

Robinhood has over three million users and is valued at $1.3 billion.

Last year, the company released Robinhood for Web, complete with research and discovery tools, as well as commission-free options trading.

Robinhood is backed with $176 million from DST Global, Index Ventures, NEA, and Thrive Capital, and most recently valued at $1.3 billion.

Last week, the firm announced Robinhood Crypto, which will bring commission-free trading of Bitcoin and Ether to the Robinhood platform. The company has won both an Apple Design Award and a Google Material Design Award.

Bitcoin exchange to dollar rate on monitor display.
Bitcoin exchange to dollar rate on monitor display (Photo Credit: www.shutterstock.com)

“We believe in Baiju and Vlad’s mission to make the financial markets more accessible and cost efficient for customers of all size,” wrote Neil Sirni, Arrive President. “Robinhood will have our support as they execute the long-term vision of their company.”

Robinhood is Arrive’s third investment. Arrive has also invested in the French audio technology company, Devialet, and the location sharing platform, InSite Applications, which is scheduled to launch in the first half of 2018.

Arrive is a Roc Nation company. Roc Nation is a full-service management, music publishing, and entertainment company founded by JAY-Z. Launched in 2017, Arrive provides high growth companies with both capital and consumer engagement through cultural influence.

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