Robinhood Allegedely Considering Launching Own Stablecoin

On a recent episode of the Thinking Crypto podcast with Tony Edward, Johann Kerbrat, General Manager of Robinhood Crypto, hinted at the potential development of a company-branded stablecoin.

While he did not confirm any specific plans, Kerbrat emphasized the growing importance of stablecoins in the crypto world and discussed the company’s current approach.

Kerbrat highlighted Robinhood’s partnership with Circle, which allows users to trade USDC without fees. This collaboration underscores the company’s focus on making crypto transactions as user-friendly as possible. He also raised concerns about the stability of reserves backing some stablecoins, stressing the need for proper backing to prevent depegging and ensure users can redeem their holdings without losing value.

Kerbrat suggested that Robinhood is exploring the possibility of launching its own stablecoin, though no concrete plans have been announced. He assured that any decision to introduce a new stablecoin would be publicly communicated.

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In addition to discussing stablecoins, Kerbrat addressed the company’s ongoing legal issues with the U.S. Securities and Exchange Commission (SEC).

Robinhood received a Wells Notice earlier this year, signaling potential enforcement action. Kerbrat expressed confidence in the company’s ability to handle the legal challenges and emphasized Robinhood’s commitment to defending its practices amid increasing regulatory scrutiny.

Alexander Stefanov