Robinhood announced to approach a worldwide expansion will be ‘Crypto First’


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