
The addition of Bitcoin, Dogecoin, and Ethereum swapping is a significant step for Robinhood and in response to requests from its user base.
Robinhood is a stock brokerage that allows customers to buy and sell U.S. listed stocks and ETFs with zero commission.
Robinhood Markets Inc., or simply Robinhood, is a U.S.-based financial services company headquartered in Menlo Park, California. The company offers the Robinhood smartphone mobile app, which allows individuals to invest in publicly tradedcompanies and exchange-traded funds listed on U.S. stock exchanges without paying a commission. The company makes money from interest earned on customers’ cash balances and margin lending, and by selling order flow to high frequency trading firms.
After an April 2017 fundraising, Robinhood had a $1.3 billion valuation. The Wall Street Journal reported in 2018 that the company had closed another round of financing that valued the company at $5.6 billion.
The addition of Bitcoin, Dogecoin, and Ethereum swapping is a significant step for Robinhood and in response to requests from its user base.
The termination of this partnership occurred without any announcement, and despite efforts from various news outlets, attempts to gather information from sources have yielded limited results.
The emergence of Robinhood as a key BTC holder signifies a potential shift in the digital asset ownership landscape.