2 years ago
Robinhood has “set assertive goals to commencement opening its crypto level up to customers internationally successful 2022,” the fashionable trading level revealed during its Q4 net call. “The institution believes successful the immense imaginable of the crypto system and sees a large accidental successful serving customers crossed the globe.”
Robinhood’s Crypto Earnings, Expansion Plans
Robinhood Markets Inc. (NASDAQ: HOOD) released its 4th fourth and afloat twelvemonth 2021 results Thursday.
The company’s full nett revenues for the 4th accrued 14% from the aforesaid play successful 2020 to $363 million. For the year, the full nett revenues accrued 89% to $1.82 cardinal from the erstwhile year. The trading platform’s transaction-based revenues, which see revenues from cryptocurrency trading, were $264 cardinal successful Q4 and $1.40 cardinal successful 2021.
Robinhood detailed:
Cryptocurrencies for the 4th accrued 304% to $48 million, compared to $12 cardinal successful the 4th fourth of 2020, and for the twelvemonth accrued to $419 million, compared with $27 cardinal for the twelvemonth ended December 31, 2020.
The institution besides reported that the “average revenues per idiosyncratic (ARPU) for the 4th decreased 39% to $64 connected an annualized basis, compared with $106 successful the 4th fourth of 2020.” The ARPU for the twelvemonth decreased 5% to $103, compared with $109 for the erstwhile year.
Regarding plans for the twelvemonth 2022, the trading level said:
Robinhood has acceptable assertive goals to commencement opening its crypto level up to customers internationally successful 2022. The institution believes successful the immense imaginable of the crypto system and sees a large accidental successful serving customers crossed the globe.
Robinhood presently supports the buying, selling, and real-time marketplace information for bitcoin (BTC), bitcoin currency (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum classical (ETC), and litecoin (LTC).
Shiba inu crypto supporters person petitioned connected Change.org for the trading level to database SHIB. However, the institution said it is successful nary hurry to database further coins, stating: “We’re a highly regulated institution successful a highly regulated industry, and we deliberation it’s important that we get a spot much clarity from regulators.”
Last week, Robinhood began rolling out its crypto wallets to customers. “By March, we volition grow the programme to 10,000 customers earlier rolling retired to the remainder of the Wenwallets waitlist,” the institution said.
What bash you deliberation astir Robinhood’s program to grow internationally? Let america cognize successful the comments conception below.
Kevin Helms
A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.
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