Robinhood Trading App lists its stablecoin

Online broker Robinhood Markets (HOOD) listed Circle’s USDC stablecoin in its crypto offerings for retail traders.

robinhood-crypto-usdc

The trading app company informed in a tweet that the offering will also be available for transfer on Polygon and Ethereum networks.

Bryan Hernandez, president, and Co-founder of the DeFi app Structure revealed that the inclusion of USDC on Robinhood is a clear indication that the platform is setting its sights abroad where the use of stablecoins is more popular and useful for investors.

The co-founder also adds that theoretically, the addition of USDC could authorize Robinhood users to send payments for a wide range of purposes, just as one would imagine Venmo or PayPal doing so for their users.

Hernandez also added that he sees more utility for global users because the domestic market already incorporates money transmitters and stablecoins are less necessary for the peer-to-peer transaction benefits international users experience.

The move comes at a time when other global crypto exchanges like Binance and WazirX have communicated that they will delist USDC in the backing of other stablecoins.

Back in July, the company added Uniswap’s UNI token to its offerings. On Tuesday, Johann Kerbrat, chief technology officer of the company, mentioned that he will be elaborating on the addition of USDC and what may arrive next during the Converge22 conference in San Francisco the following week.


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