Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Seeking Alpha 2022-09-28 18:17:22

Robinhood partners with Circle to let users buy and sell USDC

Robinhood Markets (NASDAQ:HOOD) has formed a partnership with Circle that will allow its customers to buy and sell USCoin (USDC-USD) on Robinhood, the fintech said Wednesday.The partnership will also provide in-app educational modules, allow customers to earn rewards, and will improve settlement efficiency. It also allows transfer and use of USDC on the new Robinhood (HOOD) Wallet, currently in beta.As part of the alliance, Robinhood (HOOD) will use Circle's payment infrastructure to make settlement more efficient across Robinhood and between its counterparties. The work will begin immediately and become fully integrated in early 2023, the company said."USDC will play a crucial role in helping our customers get their dollars into web3 through a trusted and transparent source," said Johann Kerbrat, chief technology officer and general manager of Robinhood Crypto (HOOD). "It’s a crucial addition to our product to enable our customers to experience web3 dapps and defi, without exposing themselves to volatility within the market."Last week, HOOD added USDC to its cryptocurrency offerings, and is the first stablecoin on the platform. A stablecoin is a digital token that has its value tied to a reference asset such as a fiat currency like the U.S. dollar.USCoin (USDC-USD) is issue by Circle and is fully backed by cash and short-dated U.S. Treasurys, Circle said. The company is a licensed money transmitter in many states and conducts...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.