Robinhood, a U.S. stock trading application, announced that it will provide crypto wallet on its platform. Immediately after the announcement, 300,000 customers were registered on the waiting list, and stock prices jumped 11%.
According to the Financial Times (FT) on the 22nd (local time), Robinhood, a U.S. stock trading application, will provide cryptocurrency wallet services on a trial basis from October. Afterwards, the service will be gradually expanded. Robin Hood said, “We will compete directly with digital currency platforms such as Coinbase.”
Robinhood’s stock price rose 11% after the announcement. According to information posted on the Robin Hood app, about 300,000 customers were listed on the waiting list for cryptocurrency wallets.
Among Robinhood’s sales in the second quarter of this year, cryptocurrency transactions amounted to $233 million, a significant increase from $5 million in the same quarter of 2020. During this period, 62% of cryptocurrency transactions came from Dogecoin transactions.
Meanwhile, cryptocurrency virtual currency is rallying at once, with Bitcoin overcoming the two-day “Hungda shock” and succeeding in rebounding more than 8%.
As of 9:50 a.m. on the 23rd (GMT+8), Bitcoin is recording $43,470.29, up 2.62% from 24 hours ago on CoinMarketCap, a global coin market broadcasting site.
Bitcoin rose to $43,978 during the day. Bitcoin plunged nearly 10% the previous day, falling below $40,000.
Bitcoin turned upward on the same day because the Fed, the U.S. central bank, said it would freeze interest rates and continue to buy bonds for the time being. The Fed is expected to begin “tapering” in November to reduce bond purchases.
The New York Stock Exchange closed higher en masse as the Fed said it would freeze interest rates and continue buying bonds for the time being. On the same day, all three major indexes of the New York Stock Exchange rose by around 1%. Accordingly, it is interpreted that cryptocurrency is also rallying.
Not only Bitcoin but also other cryptocurrencies are soaring. Ethereum, ranked second in market capitalization, is recording $3,035 up 11.49% from 24 hours ago.