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Robinhood Digs Into Crypto, Lists First Stablecoin Despite Terra (Luna) Chaos in 2022 – Robinhood Markets (NASDAQ:HOOD), USD Coin (USDC/USD)

Online brokerage platform Robinhood Markets Inc HOOD announcement Tuesday the listing of the second largest stablecoin by market capitalization, USD coin USD/USDon its platform.

Robinhood has also started listing Cardan native cryptocurrency ADA/USD September 1. shiba inus SHIB/USD was added earlier this year, something the SHIB Army had been anticipating for a while.

Totaling 17 cryptocurrencies, Robinhood supports investments in Bitcoin BTC/USD, Ethereum ETH/USD, Litecoin LTC/USDGimbal, Dogecoin DOGE/USDUSDC and Solana SOL/USD.

USDC is the first stablecoin to be listed

According to data from CoinGecko.

USD Coin, the first stablecoin listed on Robinhood, is backed by US dollars or US dollar equivalents.

Robinhood has not yet declared a stablecoin strategy and it is not yet known whether the crypto exchange will add more stablecoins in the near future.

On June 27, there was speculation that the billionaire Sam Bankman Friedthe founder of the FTX exchange, planned to acquire Robinhood.

Bloomberg said the deal was in its early stages, although neither party has confirmed it. Bankman-Fried denied the report and said it was not considering a full or partial acquisition of the business.

WazirX will remove USDC from the list

Recently, the Indian cryptocurrency exchange WazirX said that over the next two weeks, USDC is among other stablecoins it will delist. It will convert remaining balances into Binance-backed funds BinanceUSD BUSD/USDaccording to CoinTelegraph.

Are you ready for the next bull run in cryptocurrency? Be ready before that happens! Hear from industry thought leaders like Kevin O’Leary and Anthony Scaramucci at the 2022 Benzinga Crypto Conference on December 7 in New York.
Photo: Mariia Shalabaieva on Unsplash

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