While some are turning their backs on it, Robinhood announced the welcome of USDC. It will be the first coin of its kind available on the platform.
- Robinhood adds USDC to its trade listing.
- USDC now available to +20 million users.
- Binance withdrew support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for USDC and other stablecoins.
Robinhood the popular financial services platform a place to buy, sell and store cryptocurrency for retail merchants, is welcoming its first stable digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency. In a tweet on Tuesday, the company announced to its users that it is adding commercial support for the stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. USD Coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. (USDC), pegged to the US dollar.
The move means that now the more than 20 million users of Robinhood may hold and trade USDC the second largest stable currency currency is a medium of exchange that defines value. by market an area or arena, online or offline, in which commercial dealings are conducted. capitalization, directly from the application.
— Robinhood (@RobinhoodApp) September 20, 2022
Today’s announcement did not provide details about the networks. Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. in which the currency will be available. Operated by the issuing company Circle USDC runs on several blockchains, includingEthereum, Tron, Solana y Avalanche.
Robinhood is a trading application that offers its users to invest investing is when you put money in a financial scheme with the intent of making a gain. in US stock market shares and other financial instruments, including cryptocurrencies. The platform, which integrated for the first time Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. in 2018, and has since been expanding its service offering with digital assets.
At the beginning of the month, the company announced that it was adding the native cryptocurrency of Cardano , ADA to its trading listing, allowing customers to buy, sell and hold the asset. The announcement came on the heels of the integration of the UNI token, from Uniswap .
The moves have come about as part of a plan to Robinhood to expand its cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. trading offering, as it looks to respond to traders’ growing interest in the new asset class. Throughout 2022, the platform has added a handful of other coins, including. Shiba Inu (SHIB), Solana (SOL), Polygon (MATIC) ) yCompound (COMP).
Robinhood opens the doors to USDC
The integration comes just as other platforms announce the closure of trading with USDC.
Binance the world’s leading cryptocurrency exchange by trading volume, reported at the beginning of September that would withdraw the stablecoin of your commercial listing the addition of an asset or an asset pair to an exchange. . The exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. will stop offering its users the option a contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price. to buy, sell and trade USDC from 29 September, although it will still be possible to deposit and withdraw funds in USDC.
The measure, which also extends to the stablecoins USDP y TUSD will automatically switch the funds from USDC to BUSD, the stablecoin The balances in these currencies will be denominated in the US dollar in the customers’ accounts. In other words, balances in those currencies will be converted into the US dollar. token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. stable of Binance .
This week, the cryptocurrency platform WazirX based in India, announced that it was joining this initiative . As well as Binance the exchange WazirX indicated that he will remove the coins USDC, USDP y TUSD of trading options and will convert users’ funds into BUSD as of September 23rd. Although it will still be possible to deposit and withdraw tokens .
Some observers, including the CEO of Circle Jeremy Allaire, seem to agree that the decision of Binance will not have a negative impact on USDC and the other stable currencies mentioned. Instead, they have suggested that this move could be beneficial as it could increase USDC’s profitability while driving more liquidity how easily a cryptocurrency can be bought and sold without impacting the overall market price. into the crypto market.
- Robinhood finally allows withdrawing cryptocurrencies to external wallets
- Circle blacklists addresses linked to Tornado Cash cash is the most liquid form of money: physical coins and banknotes in the most narrow sense of the term. and freezes USDC funds
- Robinhood’s crypto division gets $30 million fine for money laundering
Article by Hannah Estefania Perez / DiarioBitcoin
Imagen de Unsplash edited in Canva