- Robin Market Inc. Strategically Partners with Circle, a Fintech and coin issuer firm.
- “Circle’s mission to raise global economic prosperity aligns very closely with our efforts,” says Robinhood GM.
- Robinhood aims at being fully integrated with Circle by early 2023.
Robinhood Market Inc., a brokerage service announced on September 28 that it entered into a strategic partnership with Circle, a global financial technology, and the issuer of USD and Euro Coin.
The Fintech company, Circle took to Twitter to share the announcement of their new partnership with Robinhood.
Announcing our partnership w/@RobinhoodApp to bring #USDC to Robinhood customers. Users can now buy/sell USDC on Robinhood Crypto, transfer/spend & swap USDC on the new Robinhood Wallet, & soon access exclusive educational modules to earn USDC rewards. https://t.co/VIpbz7TRU1
— Circle | #ConvergeSF22 | Sept 27-30 (@circlepay) September 28, 2022
Explaining the vital role that this partnership played in helping customers get their dollars into web3 through a trusted and transparent source, without being exposed to volatility, the chief technology officer and GM of Robinhood Crypto, Johann Kerbra, said:
Circle’s mission to raise global economic prosperity aligns very closely with our efforts to provide greater access to the financial markets and democratize finance for all.
Moreover, as per the agreement, the Robinhood app will allow customers on Robinhood Crypto and the new Robinhood Wallet to buy and sell USD. It will give access to exclusive in-app educational modules, earn rewards, improve their settlement efficiency, etc.
Notably, with the addition of USDC to Robinhood, the platform is now versatile to trade up to 17 assets. But more importantly, the USDC goes down as the first stablecoin to feature on the Robinhood platform.
Jeremy Allaire, co-Founder, and CEO of Circle, who wants to introduce web3 to a new generation of tech-savvy and digitally-connected individuals, said:
The launch of USDC on a celebrated consumer platform like Robinhood reinforces the role USDC plays in greater payments and commerce use cases.
Subsequently, Robinhood will aim to leverage Circle’s payment infrastructure to improve settlements across Robinhood products, to be fully integrated in early 2023.