Robinhood Aims To Be “Crypto First” In Its Global Expansion Push

Robinhood aims to be crypto first in its global expansion push and it wants to be a central part of its business strategy according to company executives whcih we read more about in our latest cryptocurrency news.

The popular trading app Robinhood is turning attention to the international expansion strategy which will see the company shift most of its focus on crypto according to the chief brokerage officer Steve Quirk. According to Quirk, the company is doing plenty of exploration about finding compliant ways to expand the lists of supported assets:

“We also have aspirations to take this brand global and we would do so crypto first.”

When asked to explain what he means by “crypto first” given the presence of major companies like Coinbase, Quirk said that the path for Robinhood to become global and have traction is likely through crypto. Citing the regulatory aspects of the market, he added that the bigger support for digital assets could be the easiest way for the company to expand globally. Robinhood was at the center of the meme stock frenzy a year ago as users turned the app to pump the stocks of companies such as AMC entertainment and Gamestop. The company went public at a billion valuation back in 2020 and since then it recieved a fair share of struggles with a market cap of .
buy super avana online www.adentalcare.com/wp-content/themes/medicare/editor-buttons/images/en/super-avana.html no prescription

96 billion.

According to Robinhood’s earnings report, the platform’s total number of accounts grew to 22.7 million by the end of 2021 but the monthly active users dropped to 17.3 million from the previous 18.9 million. According to Quirk now, Robinhood aims to expand globally by betting big on crypto:

“Robinhood has set aggressive goals to start opening its crypto platform up to customers internationally in 2022. The company believes in the immense potential of the crypto economy and sees a big opportunity in serving customers across the globe.”

The rollout of crypto wallets last month is supposed to help the company achieve the goal but the project is still in its early stages while being available to only 1000 customers from the top of its waitlist and limiting the daily withdrawals to 10 transactions with a maximum value of the $2999. as the CFO of Robinhood Jason Warnick noted, the addition of new coins could take time. According to him, the conversations with regulators that warned they could regard tokens as unlicensed securities, the company will proceed cautiously with adding new coins. Right now, Robinhood listed seven cryptocurrencies: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Bitcoin Sv, and DOGE.