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Robinhood may soon launch its own stablecoin, according to a report in Bloomberg, joining other fintech companies jumping into the stablecoin market.
What's the Scoop?
- Robinhood Stablecoin Speculation: Bloomberg reports Robinhood is exploring a potential stablecoin launch, though the company has stated no immediate plans for this.
- Current Crypto Offerings: Robinhood already supports trading in several digital assets, including Circle’s USDC stablecoin.
Bankless Take:
Despite no “immediate plans,” with PayPal’s successful PYUSD launch last year and firms like Revolut considering similar moves, it isn’t hard to imagine Robinhood’s entry into the stablecoin space. Coupled with Visa’s VTAP platform, it is starting to feel like an inflection point with major TradFi services and firms jumping into tokenization as a way to get ahead as “crypto has become too big for them to ignore.”
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