Crypto Trading Platform Robinhood Lists USDC as First Stablecoin

Circle’s USD Coin (USDC), the first stablecoin accessible to retail users on its platform, has been listed by the well-known U.S.based crypto and stock trading app Robinhood. #USDC is now on Robinhood @circlepay #StableCoin #CryptoListinghttps://t.co/OL7fXLffHW pic.twitter.com/EUNLPpvGUu — Robinhood (@RobinhoodApp) September 20, 2022 Robinhood – First Crypto Trading Platform In 2018, Robinhood first made its platform available for cryptocurrency trading. It has been continuously increasing the number of tokens over time. With the launch of USDC, there are presently 17 different cryptocurrencies that users of the Robinhood app can trade. The action implies that Robinhood’s business model would progressively focus on cryptocurrency trading. Chris Koegel, head of investor relations at Robinhood, mentioned cryptocurrency trading as one of the company’s three primary focus areas during its most recent results call, along with brokerage and money services. According to the company’s earnings release, Koegel stated that: “Our vision with crypto is to be the most trusted platform for customers to invest in crypto as well as the most trusted on-ramp to the decentralized web. Customers tell us that they want us to introduce more coins onto the platform.” A large portion of the company’s revenues come from sending trade orders to market participants like Citadel Securities, which pays Robinhood for access to its customers’ incoming trade...