Robinhood is likely to include crypto like Coinbase, Tesla, and MicroStrategy on its balance sheet
Chief Operating Officer (COO) Christine Brown recently told Yahoo (Robinhood)! Fund that his Menlo Park-based financial services firm is likely to add crypto to its balance sheet, following in the footsteps of Coinbase, Tesla and MicroStrategy.
NEW: Crypto COO Christine Brown tells me it is possible that $ HOOD could add crypto to its balance sheet to follow Coinbase after adding wallets. Is that the next step we consider Robinhood #Crypto Society?
“You could.” ????pic.twitter.com/U0Mrjuz8pO
– Zack Guzman (@zGuz) 09/22/2021
Brown also said that Robinhood is considering listing more cryptocurrencies:
If you have more than 7 coins that we are currently offering, we cannot take that into account today. We are therefore considering adding even more coins to our offer so that we can become a single hub for crypto customers.
As Bitcoinist recently reported in its Daily Crypto News, Robinhood has announced that they will gradually begin rolling out crypto wallet support in October and have ambitions to dig deeper into this billion dollar business.
Cryptocurrencies have become an important part of Robinhood’s business, making up the bulk of its transaction-based revenue in the second quarter. Dogecoin alone contributed 26% of the company’s total revenue in the second quarter.
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Tan Thuy Hoang
According to U.today