For more than a decade, Robinhood has sought to expand its involvement with crypto – and it looks like they are addressing different kinds of customers to advocate for the cryptocurrency industry.
Johann Kerbrat, the general manager of crypto at Robinhood, stated that customers who use cryptocurrency “don’t really care what is the protocol under it? What is the network that [they’re] using? [They] just want the thing to work.” With blog and video guides provided on the app to help novice traders, Robinhood is tackling accessibility for all levels of traders. In this move, traders can do more technical things like transferring to its crypto wallet and using “advanced charts and autotypes where you can put, for example, a stop loss”, according to Kerbrat.
Despite building more progressive infrastructure, Robinhood imposed limits on the holding and trading of certain cryptocurrencies for U.S.-based customers back in June when government watchdogs began to question digital asset exchanges, such as Binance and Coinbase. Nevertheless, USers today are still granted access to 14 cryptocurrencies and one stablecoin, USDC.