Robinhood Announces David Schwed As New Chief Information Security Officer

Robinhood has named David Schwed as its new Chief Information Security Officer for the Brokerage department. Before this, Schwed served as the Chief Operating Officer and then as a Counsellor at Halborn, a cybersecurity company.

In an announcement on LinkedIn, Schwed stated that he has worked in the crypto industry for over six years and has seen how giving everyone a chance with money can change things. He added that Robinhood’s goal to democratize finance for everyone aligns with his, and he is happy to keep on contributing to this goal.

The Company Wants To Begin Crypto Futures Trading In Europe And The US

Schwed is a tech professional who has served in many organizations in his whole career including Hexagate, Utila, Lava Network, and DFNS. Schwed also works as an initial-stage investor and consultant to several blockchain technology and cybersecurity companies. He also acts as an Expert Witness in Cryptocurrency, Cybersecurity, and Computer Forensics.

This new appointment happens while Robinhood is growing its services and products. The firm recently introduced a no-commission brokerage platform to expand its cryptocurrency offerings. It has also broadened its presence in the US Virgin Islands, Puerto Rico, and Hawaii.

The company is also planning to introduce crypto futures trading in Europe and the US. The move into Hawaii happened after the state’s Department of Commerce and Consumer Affairs made new rules. These rules stopped crypto service companies from getting a money transmitter license to conduct business in Hawaii.

This year, Robinhood purchased Pluto Capital, an AI-driven investment analysis platform, to improve its technology. The firm saw this purchase as a way to give Robinhood users data-based investing, with a focus on custom investment plans and quick information.

Robinhood Agreed To Purchase Bitstamp, In A $200 Million Deal

Robinhood also introduced joint investing accounts so users can handle investments together. By putting all assets into one account, this feature helps families and partners improve their investment plans.

A few weeks ago, Robinhood agreed to purchase Bitstamp, a UK-based crypto exchange in a deal worth $200 million. The company plans to expand its footprints beyond the US and speed up its move into digital assets.

Bitstamp was founded in 2011 and has more than 50 active licenses worldwide and will bring clients from Asia, the US, the UK, and the EU to Robinhood. This will help the platform compete with big exchanges like Coinbase.

Bitstamp’s main exchange, which has more than 85 assets to trade, and its services such as lending and staking will also help Robinhood go beyond regular customers and attract institutional clients. The Bitstamp team will start working with Robinhood after the deal is finished in the first half of 2025 if all conditions are met.