In an interview with CNBC on February 9, Steve Quirk, Robinhood's chief brokerage officer, has announced that the Popular exchanging app Robinhood's worldwide expansion will be "crypto first," as the organization hoped that from the regulatory standpoint, crypto is likely the easiest way to approach worldwide.

Quirk talked about the firm’s turnaround strategy and crypto to CNBC in an interview on Wednesday, “I think the path for us to go global and have the most traction is probably through crypto, and then maybe follow with other components of the offering." "From the regulatory standpoint and all the facets that come into it, it’s probably the easiest way to go global," he added.

Regulatory consistency is among the main concerns for the organization. In December 2021, the organization banded together with the blockchain analytics platform Chainalysis to furnish clients with a protected environment for trading. The organization likewise noted last month that it is crucial to get a touch more regulatory clarity before listing extra coins.

Quirk additionally uncovered plans of listing more cryptos on their platform taking note that Robinhood has seven recorded cryptos as of now.

Robinhood is an exchanging organization that at present supports purchasing, selling, and real-time market information for cryptos including, Bitcoin (BTC), Bitcoin cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC) and Litecoin (LTC).

Quirk added that Robinhood will likewise carry out a few new features individuals have been searching for like wallets. The platform as of late started carrying out its crypto wallets to clients. “We also have aspirations to take this brand global and we would do so crypto first,” he told CNBC’s ‘Squawk Box’.

“By March, we will expand the program to 10,000 customers before rolling out to the rest of the Wenwallets waitlist,” the company said.

Joyashree Dey

CBW - External Analyst

INDIA