Robinhood Announces Listing Its First Stablecoin

Robinhood announced that it has listed its first stablecoin.

Broker app Robinhood led by Vlad Tenev has listed USDC as the second largest stablecoin.

Robinhood Listed by USDC

The platform recently attracted attention by listing Cardano’s native token ADA on September 1. In addition, after a long wait, the famous meme token SHIB joined the list of cryptocurrencies traded.

Robinhood supports 17 cryptocurrencies in total. This list includes Bitcoin, Ethereum, Litecoin, Cardano, Dogecoin, Solana and most recently USDC. USDC has the distinction of being the first stablecoin listed by the platform.

At the time of writing, USDC’s 24-hour trading volume stands at $4,829,290,717.63 with a total market cap of $50,139,306,696.82.

While USDT is a larger stablecoin than USDC, the platform chose to list USDC rather than the more controversial coin, USDT.

The rumors that the FTX Exchange will buy Robinhood were also among the topics on the agenda. Following the news on June 27, the value of HOOD’s stock had increased by as much as 18%. Bloomberg shared the information that the acquisition is still in the early stages.

The next day, however, FTX founder Sam Bankman-Fried denied all the rumors.