- Robinhood’s main product is the “Robinhood Crypto in the US.”
- Traders on Robinhood could get an average of 3.6% more cryptos.
- Robinhood acquired Bitstamp with international expansion in mind.
Robinhood’s Crypto General Manager Johann Kerbrat has highlighted the company’s crypto-related products and plans, given the current changes within their ecosystem. According to Kerbrat, Robinhood’s core product is the “Robinhood Crypto in the US,” designed to make the platform the most affordable and trustworthy place to trade crypto.
During a recent podcast with the Thinking Crypto host, Kerbrat noted crypto traders on Robinhood could get an average of 3.6% more cryptos on Robinhood versus its competitors, with about 15 other assets on the platform. He also stated that eligible users on Robinhood can buy, sell, hold, and transfer crypto using the platform.
Bitstamp Acquisition
Robinhood returned to the crypto spotlight after its recent acquisition of Bitstamp, a major global crypto exchange. Reports indicate that this acquisition aims to help Robinhood launch a derivatives exchange to serve institutional investors.
Robinhood’s CEO Vladimir Tenev has said that this development would allow the firm to serve institutional investors who want access to the company’s offerings. Tenev highlighted services such as 24-hour access to the equity markets, industry-leading margin rates, and a great customer experience.
Meanwhile, Kerbrat noted that Robinhood has spent the past few years building tools to make it easy for people to invest and trade cryptocurrency. In addition to offering services for DCA trading strategies, Kerbrat said that Robinhood provides advanced trading tools, charts, and custom pricing systems.
Global Expansion and Product Diversification
Beyond Tenev’s reasons for Robinhood’s Bitstamp acquisition, Kerbrat emphasized that the company bought the exchange with international expansion in mind. He noted Bitstamp’s over 50 licenses across the globe as a major advantage and a step towards Robinhood’s goal to expand globally.
Read also: Robinhood Expands European Footprint with Acquisition of Crypto Exchange Bitstamp
Moreover, Kerbrat noted that Bitstamp’s status as an exchange would allow Robinhood to offer more products with more advanced features. He believes it would also support the firm’s growth plans, especially in tokenization.
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