Robinhood Lists Its First Stablecoin USDC

Circle’s USD Coin (USDC), the first stablecoin available to retail users on its platform, has been listed on the popular stock trading app Robinhood.

Robinhood, a famous brokerage app led by Vlad Tenev that allows investors to trade in both equities and cryptocurrency, has announced that the second largest stablecoin by market capitalization, USD Coin, is now accessible for trading and holding.

In 2018, Robinhood made cryptocurrency trading available on its platform for the first time. Itisc has continuously added tokens over time. With the launch of USDC, users may now trade 17 different cryptocurrencies using Robinhood’s app as of this writing.

The site also added Cardano’s native coin, ADA, on September 1. It added Shiba Inu to its list of traded cryptocurrencies earlier this year, something the SHIB community had been anticipating for months.

During the company’s most recent earnings call, Robinhood’s head of investor relations, Chris Koegel, listed crypto trading as one of three primary areas of focus for the company, along with brokerage and money services. According to the firm’s earnings note, Koegel said:

“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.”

USDC market cap at the time of writing sits at $50,129,072,992 and trading volume amounts to $4,783,327,515. Compared to USDT, the latter is more than 10 times less. However, Robinhood chose USDC instead of Tether.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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