CFO Robinhood hints at op grote crypto plan after IPO

Popular stock-buying app robinhood is launching a new chapter as a public business on Thursday. This designation means that a company will reveal the need for more information about its plans, including its financial and business strategies, about the relevant commission, which operates as part of the rapidly growing Robinhood.

Decoding spoke to robinhood CFO Jason Warnick on Wednesday to get an idea of what the next period will bring. He spoke cautiously, in part, because the company was still in a quiet period for an IPO, but it was still clear that Robinhood had outlandish crypto views.

More than buying and selling
Warnick said there is a lot of demand among Robinhood customers for crypto services that go decidedly beyond the simple trading of currencies like bitcoin and Ethereum. In particular, he cited the demand for full-scale crypto wallets that allow users to send money from the Robinhood platform, as well as the opportunity to receive interest and participate in the blockchain process known as strike.

All this fits with rumors that have leaked in recent weeks and the fact that Robinhood is preparing to participate in Coinbase’s crypto exchange, including the creation of tools for customers to participate in decentralized financing platforms (Defi). Over the past year, the company has also established a dedicated crypto division at the company.

Warnick did not directly respond to a question about Robinhood’s potential competition with Coinbase, saying only that the company is closely monitoring its competitors.

But he spoke about the commission-free robinhood crypto business model, as did the rest of his offerings. Instead, the company makes money by taking discounts from market makers before shipping large orders. Warnick says the plan is profitable for both Robinhood and crypto customers.

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