It desires to draw the “whole spectrum” of digital asset buyers
Robinhood has been round for over a decade, and its foray into crypto isn’t essentially new; nonetheless, the corporate continues to be attempting to increase its efforts there — even in teams which have usually strayed from the platform.
“I believe crypto has at all times been made by very technical folks and for technical folks,” Johann Kerbrat, the overall supervisor of crypto at Robinhood, stated on the Chain Reaction podcast. “On the finish of the day, I believe clients, once they use crypto, they don’t actually care what’s the protocol underneath it? What’s the community that you simply’re utilizing? They only need the factor to work.”
Whereas that could be true for novice crypto buyers — the app has achieved job of onboarding that group by offering academic sources — it now desires to concentrate on everybody, even those that do care about underlying protocols. Robinhood customers can do extra technical issues like switch to its crypto pockets and use “superior charts and autotypes the place you possibly can put, for instance, a cease loss,” Kerbrat stated.
The platform won’t be as extremely technical as one which’s crypto-focused, however Robinhood is doing analysis to grasp what clients need and are lacking.
Although there are plans for development, Robinhood has seemingly been wavering on its stance within the digital asset area. In June, the app selected to limit the trading and holding of sure cryptocurrencies for U.S. clients, at a time when the U.S. authorities was cracking down on massive trade exchanges like Binance and Coinbase. With that stated, the platform nonetheless has 14 cryptocurrencies and one stablecoin, USDC, accessible for customers to purchase and promote.