THE DAILY ENCRYPT

October 3, 2022

Trading Platform Robinhood to Add USDC From Wednesday

Robinhood Markets (HOOD), an online broker, added Circle's USDC stablecoin Tuesday to its crypto offerings....
robinhood
Photo by PiggyBank

Robinhood Markets (HOOD), an online broker, added Circle’s USDC stablecoin Tuesday to its crypto offerings. On Wednesday, users will be able transfer the stablecoin to the Ethereum and Polygon networks.

In a tweet , the company stated that Wednesday’s offering will be available for transfer to Ethereum and Polygon networks.

The inclusion of USDC on Robinhood is a clear signal that the platform is setting its sights abroad where the usage of stablecoins is more popular and useful for investors,” Bryan Hernandez, president and co-founder of decentralized-finance (DeFi) app Structure.

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Robinhood sets the stage for more crypto adoption

He said that the addition of USDC could enable Robinhood users to send payments for many purposes in much the same way as Venmo and PayPal.

Hernandez said that he believes global users will have more utility because there are already money transmitters in the market.

He said that stablecoins were less needed for international users to enjoy the peer-to-peer transaction advantages because the U.S. market has become saturated with money transmitters.

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This move is in response to other global crypto exchanges such as Binance and WazirX, which have stated that they will remove USDC from their platforms in order to support stablecoins.

Robinhood’s July offerings included the Uniswap UNI token.

Johann Kerbrat (Robinhood’s chief technology officer) stated on Tuesday that he would be discussing the addition of USDC during the Converge22 conference next week in San Francisco.

Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".
Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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