Robinhood Buys Venue Liquidity with Equity Stake in Crypto.com and OG.com

Retail brokerage Robinhood has taken an equity stake in Crypto.com and OG.com as part of its partnership to provide liquidity for event contracts.

The stakes are priced at a $20 billion valuation, matching Citadel Securities' recent mark on Crypto.com Group. The exact size of the stake remains undisclosed.

Roughly 13.6 billion event contracts traded on Robinhood's app in Q2 alone, with World Cup flow topping 5 billion. This volume drove prediction revenue to nearly $156 million, surpassing equities transaction revenue and crypto on the same books.

The partnership allows Robinhood to route selected football event contracts to OG.com through Crypto.com's CFTC-regulated exchange and clearinghouse, CDNA/OG.com.