Robinhood could be the subsequent firm so as to add cryptocurrencies so as to add its steadiness sheet
Brown additionally stated that Robinhood was trying into including extra cryptocurrencies:
Now, when you have greater than the seven cash that we at the moment supply, we received’t be capable of fulfill that in the present day. So, we’re extending our providing together with much more cash so we will be the one-stop-shop for crypto prospects.
As reported by U.Today, Robinhood introduced that it will steadily begin rolling out assist for cryptocurrency wallets in October. Its shares are at the moment up 6% on the information.
Crypto has grow to be an important a part of Robinhood’s enterprise, accounting for the majority of its transaction-based revenue within the second quarter. Dogecoin alone was accountable for 26 % of the corporate’s total Q2 income.