Robinhood commits to global crypto strategy

Trading platform Robinhood is expanding its crypto service to customers globally in 2022, according to the company’s Q4 earnings call.

Robinhood said that it believed in the “immense potential” of the crypto economy and was prepared to serve customers worldwide.

The company reported $363m over the period, which was up 14% year-over-year. Net revenues for the full financial year amounted to $1.82bn, or an 89% increase compared to 2020.

Revenue from cryptocurrency trading accounted for the bulk of the platform’s success with Robinhood realizing $1.40bn.

However, the company acknowledged that its average revenue per user decreased on an annualized basis to $64, down 39%.

The company supports a number of cryptocurrency assets at the time of writing, including bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV) ethereum (ETH), litecoin (LTC) and dogecoin (DOGE).

The platform is also looking to add other tokens, and supporters of shiba inu (SHIB), a DOGE cousin token, have already petitioned the company to allow the currency onto its platform. The company has responded that any new listing should happen in a highly controlled environment.

“We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators”, Robinhood stated.

The ambitious outlook for 2022 and the rollout of crypto trading services, comes at a time when Robinhood is busy with the launch of its crypto wallets.

The company expects to have equipped some 10,000 customers with the wallet by March, after an initial launch with 1,000 users.

Meanwhile, you may use crypto recreationally at places such as 1xBit, FortuneJack or Bitcasino.

Looking for your next crypto casino? Check out: Mega Dice or FortuneJack

Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.

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