Robinhood: “We have no reason to invest in cryptocurrencies”

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Popular online broker Robinhood announced that it sees no reason to invest corporate funds in new digital assets – despite the high demand for cryptocurrency from customers.

The report for the last quarter shows that the American brokerage company Robinhood Markets earned $ 51 million in crypto trading, and stores about $ 6 billion of its capital in digital coins. However, the company is currently not planning to invest in cryptocurrencies.

“We would like to expand our range of services with new digital currencies, but now it is more important for us that the industry is better regulated. Therefore, while our strategy does not provide for an active game on the crypto market, – said Jason Warnik, CFO of Robinhood. “We do not plan to include any new cryptocurrencies in addition to the ones we already have on the site.”

In late December, it was rumored that Robinhood would be listing the SHIB meme coin. However, the company changed its mind and decided not to rush, wishing to first collect expert opinions.

Robinhood Markets focuses on the opinion of regulators when it comes to how to treat certain cryptoassets, explains Jason Warnik. At the same time, the company understands that customers would like to see more cryptocurrencies on the site. But stability and safety, brokers assure, are above all for them.

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