HOOD Goes Parabolic As Robinhood Launches Massive Crypto Expansion With New Layer-2 Chain, Stock Tokens and More

The shares of the Handelsapp Big Robinhood (Hood) have risen by 10% at this time and act on all time highs after asserting a big extension of crypto.

In keeping with a Robinhood announcementThe Retail Buying and selling app has launched the US inventory and exchange-traded fund (ETF) tokens within the EU.

The shares are issued on the Ethereum (ETH) Layer-2 blockchain arbitrum (ARB). Robinhood additionally introduced plans to construct his personal Laag-2 on Arbitrum.

Says GM and SVP of Robinhood Crypto Johann Kerbra,

“Crypto was constructed by engineers for engineers and has not been accessible to most individuals.

We make the world on board on board through the use of it as straightforward as attainable – with the goal of bringing highly effective instruments into one intuitive platform. “

Furthermore, the Handelsapp large introduces the fixed crypto -futures within the EU, in addition to crypto establishment in each the EU and the US.

Feedback Robinhood -President and CEO Vlad Teev,

“Our latest provide laid the inspiration for crypto to grow to be the spine of the worldwide monetary system.”

Final week Robinhood introduced that the micro-futures rolled out for Bitcoin (BTC) and different high crypto property.

In a podcast interview final yr, Teev mentioned that Robinhood has ambitions to play a job in merging AI and Wealth Administration.

“I feel there are two main technological developments that may affect monetary companies. One is crypto, the opposite is ai. And Robinhood can be a pacesetter in each. I imply, we’re already a pacesetter in crypto, and we make many and plenty of investments to make sure that we’re the chief in AI.

I do not assume the competitors is especially formidable, however I additionally assume that this isn’t an excuse to grow to be complacent, so sure, I feel we are going to do quite a bit. And we additionally not too long ago introduced a takeover of Pluto, what’s it really an AI-based funding analysis product, so you may introduce details about corporations and investments. “

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Featured picture: Shutterstock/Fona