Robinhood to Launch a Stablecoin
According to a report from Bloomberg, Robinhood, a popular US-based zero-commission broker, is considering launching stablecoins following the footsteps of Revolut.
However, a spokesperson from Robinhood has stated that the company does not currently have any immediate plans to launch this offering, but has not completely ruled out the possibility.
While initially disrupting the American stock brokerage market, Robinhood has since expanded its offerings to include cryptocurrencies and now generates a significant portion of its revenue from digital assets.
In the second quarter of 2024, its revenue from crypto transactions reached $81 million, while its total transaction-based revenue was $327 million.
Although Robinhood has been offering cryptocurrency services to American users for some time, it only expanded to Europe in December of last year.
Recently, it also launched staking services and made the app available in multiple local languages, further broadening its reach in the European market.
