Shares of Robinhood Markets (HOOD) were down 5% in early trading on Thursday after the online trading site announced it agreed to buy San Francisco-based X1, a trading platform t⛄hat offers no-fee credit cards and rewards on every purchase. 

Robinhood indicated it would be paying about $95 million in cash when the deal closes, which is expected in the third quarter. 

Robinhood co-founder and CEO Vlad Tenev said the purchase “brings u𓃲sౠ closer towards our goal of serving the entirety of our customers’ critical financial needs.”

The company indicated that X1 co-founders Deepak Rao and Siddharth Batra will overs𝓀ee the new business for 🐻X1, with Rao becoming GM of Credit Cards.

The move could help diversify Robinhood’s income stream, after the company saw a decline in the number of subscribers and trading volume. Robinhood reported last week that in May, 澳洲幸运5官方开奖结果体彩网:monthly active users (MAUs) dropped 28% from the year before, and trading revenue fell 9%, with equity trading volume sinking 15% and cryptocurrency volume plunging 68%.

Robinhood shares declined after the announcement, but were still up 14% year-to-date.