Robinhood adds $25 million in bitcoin to corporate balance sheet
Robinhood, the U.S.-based financial services company, has added $25 million worth of bitcoin to its own balance sheet.
The announcement came from Johann Kerbrat, Robinhood's Senior Vice President and General Manager of Crypto and International, at the Digital Asset Summit (DAS) Asia conference.
By making this move, Robinhood is showing it's serious about crypto, joining companies like Tesla and Block that also hold bitcoin as part of their corporate assets.
Robinhood expands crypto products and integrations
Robinhood has been rolling out new features for crypto fans lately. It launched Robinhood Chain (an Ethereum-compatible network), offers tokenized stocks and a stablecoin called USDG, and even lets users earn yield through Robinhood Earn.
With over 28 million funded customers globally and integrations with DeFi platforms such as Uniswap and Chainlink, Robinhood is clearly aiming to be a major player in digital assets.