Robinhood Has No 'Imminent Plans' For a Stablecoin, Says VP - Decrypt
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Robinhood Has No 'Imminent Plans' For a Stablecoin, Says VP
"The rumors are always interesting, but we haven’t really spent time on it." Robinhood Crypto’s VP told Decrypt. Robinhood dismissed speculations regarding the company’s entry into the stablecoin market, confirming on Monday that Robinhood
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Summary
- 🚫 Robinhood's VP stated the company has no "imminent plans" to launch a stablecoin, dismissing recent rumors.
- 🤔 Johann Kerbrat, Robinhood Crypto's VP, mentioned that while rumors are interesting, the company hasn't focused on developing a stablecoin.
- 🔍 A Bloomberg report suggested that both Robinhood and Revolut were considering stablecoins, but Robinhood clarified its stance.
- 💬 Revolut did not provide comments on the matter, but a source indicated they are exploring the idea of a stablecoin.
- 📈 The stablecoin market is currently led by Tether (USDT), which has a $119 billion market cap, making it a challenging space for new entrants.
Top Highlights
- Robinhood Has No 'Imminent Plans' For a Stablecoin, Says VP "The rumors are always interesting, but we haven’t really spent time on it." Robinhood Crypto’s VP told Decrypt.
- Robinhood dismissed speculations regarding the company’s entry into the stablecoin market, confirming on Monday that Robinhood (HOOD) has no "immediate plans" to launch its own stablecoin. "At this point, we don't have any immediate plan to launch a stablecoin. The rumors are always interesting, but we haven’t really spent time on it." Robinhood C...
- He was addressing a Bloomberg report last week saying that both Robinhood and Revolut were considering launching stablecoins. However, when pressed further about any imminent plans, the Robinhood VP added: "On our side, we don't have any imminent plan. It's always kind of funny in my position to see where people think we're going to move next."
- eanwhile, Revolut refused to comment on the matter. A source familiar with the European neobank told Decrypt that a stablecoin was being “explored,” but that specific details—like a timeline—had not yet been carved out. This development follows recent speculation that fintech heavyweights were looking to compete in a stablecoin market currently d...
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