Robinhood Adds USDC as First Stable Coin to Cryptocurrency List

Robinhood, a US-based facilitator for trading stocks, exchange-traded funds, and cryptocurrencies, has added the US Dollar (USDC) to its list. This is the first ever stablecoin listed on Robinhood.

According to Robinhood’s AdvertisersR USDC is available for transfer on both the Polygon (MATIC) and Ethereum (ETH) networks from September 21, 2022.

Johan Kerberat, Crypto General Manager at Robinhood, He said He will discuss what the USDC addition will mean for Robinhood at the Converge SF 2022 conference scheduled for next week.

San Francisco-based retail investment platform Robinhood allows users to trade the following digital assets – Avalanche (AVAX), Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Cardano (ADA), Chainlink (LINK), Composite (COMP). ), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Polygon (Matic), Sheba Inu (Ship), Solana (Sol), Stellar Lumens (XLM), Uniswap (UNI) and more recently , USD Coin (USDC).

USDC is a stable digital currency pegged to the US dollar and was founded by Circle, a global financial technology company.

While applauding the addition of USDC to Robinhood, Circle tweeted: “As a reminder, we only support the Ethereum PoS chain developed for USDC. Be alert for scams and phishing attempts by bad actors that encourage you to interact with unsupported assets on the ETH PoW Chain.”

Robinhood’s recent strategic moves

Recently, Robinhood Advertise the list From Cardano (ADA), the eighth largest cryptocurrency in the world with a market capitalization of $15.3 billion. On September 1, Robinhood announced that its users can now trade ADA and be exposed to its spot price. According to Robinhood, ADA has been listed on the platform due to popular demand.

Claiming to democratize finance for all since 2015, Robinhood recently unveiled the “Robinhood Investor Index” – an aggregate look at the top 100 investments owned by its clients in Robinhood and tracking the performance of these investments over time. “Unlike most other indices, it’s not dollar-weighted, but persuasion-weighted,” Robinhood stated.

Robinhood first announced its support for digital assets in 2018 and added a list of tokens to its platform. The company wants to establish itself in the crypto sector and is adding digital tokens to its list.

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