🚨 Ripple and Robinhood Expand Partnership for RLUSD Stablecoin
Ripple and Robinhood have announced a major expansion to bring the RLUSD stablecoin to retail and institutional markets. The stablecoin will launch on the Robinhood app later this year, following its current availability on Bitstamp and Robinhood Chain.
Robinhood will also integrate Ripple Treasury to manage its global cash operations and liquidity. Additionally, the platform plans to use RLUSD on the XRP Ledger for institutional settlements, moving beyond customer services into internal financial infrastructure.
The news coincides with Ripple receiving final OCC approval to establish a national trust bank to manage RLUSD reserves. BNY has also expanded its role, supporting custody for XRP and RLUSD while allowing clients to mint and redeem the stablecoin directly.
#Ripple #Robinhood #RLUSD #XRP
Ripple and Robinhood have announced a major expansion to bring the RLUSD stablecoin to retail and institutional markets. The stablecoin will launch on the Robinhood app later this year, following its current availability on Bitstamp and Robinhood Chain.
Robinhood will also integrate Ripple Treasury to manage its global cash operations and liquidity. Additionally, the platform plans to use RLUSD on the XRP Ledger for institutional settlements, moving beyond customer services into internal financial infrastructure.
The news coincides with Ripple receiving final OCC approval to establish a national trust bank to manage RLUSD reserves. BNY has also expanded its role, supporting custody for XRP and RLUSD while allowing clients to mint and redeem the stablecoin directly.
#Ripple #Robinhood #RLUSD #XRP
💰 Robinhood Hits Record $1.4 Billion Revenue Amid Crypto Recovery
Robinhood reported record net revenue of $1.4 billion for Q3, a 12% year-over-year increase. Despite the revenue milestone, net income fell 14% to $476 million, impacted by $67 million in unrealized losses from its venture fund.
Crypto transaction revenue rose to $120 million, up 20% from the previous quarter. Total crypto trading volume reached $50 billion, with Bitstamp contributing $29 billion while the main Robinhood app handled $21 billion in retail activity.
The Robinhood Chain saw massive adoption in its first mainnet quarter, generating over $80 billion in decentralized exchange (DEX) volume and $50 million in fees. The company now ranks the network as a top-five chain by revenue and volume.
#Robinhood #CryptoNews #Bitstamp #Blockchain
Robinhood reported record net revenue of $1.4 billion for Q3, a 12% year-over-year increase. Despite the revenue milestone, net income fell 14% to $476 million, impacted by $67 million in unrealized losses from its venture fund.
Crypto transaction revenue rose to $120 million, up 20% from the previous quarter. Total crypto trading volume reached $50 billion, with Bitstamp contributing $29 billion while the main Robinhood app handled $21 billion in retail activity.
The Robinhood Chain saw massive adoption in its first mainnet quarter, generating over $80 billion in decentralized exchange (DEX) volume and $50 million in fees. The company now ranks the network as a top-five chain by revenue and volume.
#Robinhood #CryptoNews #Bitstamp #Blockchain