Robinhood VP quashes stablecoin launch rumors
Robinhood VP quashes stablecoin begin rumors Robinhood VP quashes stablecoin begin rumors
Kerbrat told Decrypt in an interview on Sept. 30 that Robinhood has no piquant plans to explore the pattern of a stablecoin.
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Robinhood Crypto Vice President and General Supervisor Johann Kerbrat put an pause to fresh rumors that the fintech huge has plans to begin its hang stablecoin.
Kerbrat told Decrypt in an interview on Sept. 30 that Robinhood has no piquant plans to explore the pattern of a stablecoin.
Kerbrat acknowledged:
“At this point, we don’t have any quick opinion to begin a stablecoin. The rumors are consistently exciting, but we haven’t the truth is frolicked on it.”
His comments come after a fresh Bloomberg Info document claimed Robinhood and Revolut were taking a peek to begin a stablecoin.
Despite rising curiosity in stablecoins, Kerbrat emphasized that Robinhood has no coming near near plans to enter this dwelling. He added:
“It’s consistently exciting to gaze where folks judge we’re going to head subsequent, but for now, that’s not fragment of our roadmap.”
Robinhood’s formulation to stablecoins has largely been by partnerships, including the itemizing of Circle’s USD Coin (USDC). Meanwhile, Revolut has expanded its crypto choices but has not confirmed any remark plans for a stablecoin begin.
Per the document, Revolut declined to instruct without extend on the subject. On the opposite hand, a source accustomed to the European fintech company acknowledged the agency became “exploring” the theory of launching a stablecoin. On the opposite hand, no sure timeline or concrete plans for a stablecoin begin were finalized at this point.
TradFi and stablecoins
The stablecoin market, led by Tether (USDT), holds a important section of the total crypto panorama, but fresh entrants have faced hurdles.
Most valuable old fashioned monetary companies admire PayPal and JPMorgan, to boot as crypto giants admire Binance, have failed to subject the dominance of USDT and USDC.
In August 2023, PayPal presented its hang stablecoin, PYUSD, geared toward facilitating seamless funds and transfers between users. Despite PayPal’s spacious client disagreeable, the stablecoin has struggled to blueprint important traction in a market dominated by crypto-native avid gamers.
Despite the challenges, speculation continues to swirl about TradFi companies taking a peek to capitalize on the rising quiz for actual digital currencies, with Societe Generale being the most fresh to enter the dwelling.
Mentioned in this article
Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his expertise worldwide for over a decade. Specializing in monetary journalism, he now focuses on crypto reporting.
Info Desk
CryptoSlate is a comprehensive and contextualized source for crypto news, insights, and info. Focusing on Bitcoin, macro, DeFi and AI.
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In this article
Launched in 2014, Tether is a blockchain-enabled platform designed to facilitate the exercise of fiat currencies in a digital formulation.
USD Coin (USDC) is a stablecoin entirely backed by the US dollar and developed by the CENTRE consortium.
Robinhood
Robinhood is an American monetary products and companies company headquartered in Menlo Park, California that became based in April 2013 by Vladimir Tenev and Baiju Bhatt.
Revolut
Revolut is a monetary expertise company that offers a unfold of industrial products and companies, including a digital banking platform, international currencies change, stock trading, cryptocurrency trading, and various connected products and companies.
PayPal
PayPal is an American multinational monetary expertise agency that operates an on-line cost machine in most countries that lets in on-line money transfers and serves as an electronic change for aged paper options admire checks and money orders.
JPMorgan
JPMorgan Trot & Co is a world chief in monetary products and companies, offering alternate options to the sphere’s most important companies, governments, and establishments in further than 100 countries.
Binance
Binance is a world cryptocurrency change that offers a platform for trading extra than 100 cryptocurrencies.
Circle
Circle Cyber net Monetary Ltd is a world cyber net finance company, built on blockchain expertise and powered by crypto property.
Tether Restricted
Tether Restricted is the company that presented Tether (USDâ® or USDT), an asset-backed cryptocurrency stablecoin, in 2014.
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