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Robinhood is looking into offering crypto trading services for businesses
Robinhood is looking into offering crypto trading services for businesses
Crypto

Robinhood is looking into offering crypto trading services for businesses

By Amelia Tomasicchio - 19 Mar 2021

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In a recent interview published on the company’s own YouTube channel, Robinhood CEO Vlad Tenev explained that he wants to improve and expand the platform’s services with regard to crypto trading, including adding new pairs.

These are Tenev’s words from the video:

“As much as people are bugging me on that on social media, I’m bugging our crypto team and our software engineers. We’re going to try and get that done as fast as possible. And we’ll see. We might add some new coins along the way.”

During the interview, Tenev also speculated about the launch of a Robinhood crypto wallet, although he explained that they will be very cautious about this.

Robinhood and the problems with Gamestop

With regard to the events surrounding Gamestop, when WallStreetBets drove up the company’s stock price and the platform decided to block trading, Tenev explained that it was definitely bad publicity for the platform, but did not comment further.

The Robinhood IPO in 2021

At the beginning of January, it was announced that Robinhood would be listed on the stock exchange via an IPO, and could then sell its shares via its own app.

The Coronavirus pandemic has led to an increase in users, who, due to the economic crisis, have decided to use the app to make their own investments.

In fact, CNBC reported that Robinhood grew from 10 million users in December 2019 to 13 million in May 2020

In April 2020, the platform had been included by Forbes in the top 10 largest fintech companies in the US.

The fintech deal with Walmart

In early January 2021, Robinhood had also announced a new partnership with the famous American supermarket chain Walmart to create a fintech startup offering innovative, reliable and modern financial solutions.

Amelia Tomasicchio
Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eido. She is now the co-founder and editor-in-chief of The Cryptonomist.

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