Robinhood has “set aggressive objectives to start out opening its crypto platform as much as clients internationally in 2022,” the favored buying and selling platform revealed throughout its This fall earnings name. “The corporate believes within the immense potential of the crypto financial system and sees an enormous alternative in serving clients throughout the globe.”
Robinhood’s Crypto Earnings, Growth Plans
Robinhood Markets Inc. (NASDAQ: HOOD) launched its fourth quarter and full 12 months 2021 outcomes Thursday.
The corporate’s whole internet revenues for the quarter elevated 14% from the identical interval in 2020 to $363 million. For the 12 months, the overall internet revenues elevated 89% to $1.82 billion from the earlier 12 months. The buying and selling platform’s transaction-based revenues, which embody revenues from cryptocurrency buying and selling, had been $264 million in This fall and $1.40 billion in 2021.
Robinhood detailed:
Cryptocurrencies for the quarter elevated 304% to $48 million, in comparison with $12 million within the fourth quarter of 2020, and for the 12 months elevated to $419 million, in contrast with $27 million for the 12 months ended December 31, 2020.
The corporate additionally reported that the “common revenues per consumer (ARPU) for the quarter decreased 39% to $64 on an annualized foundation, in contrast with $106 within the fourth quarter of 2020.” The ARPU for the 12 months decreased 5% to $103, in contrast with $109 for the earlier 12 months.
Relating to plans for the 12 months 2022, the buying and selling platform stated:
Robinhood has set aggressive objectives to start out opening its crypto platform as much as clients internationally in 2022. The corporate believes within the immense potential of the crypto financial system and sees an enormous alternative in serving clients throughout the globe.
Robinhood at present helps the shopping for, promoting, and real-time market knowledge for bitcoin (BTC), bitcoin money (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum traditional (ETC), and litecoin (LTC).
Shiba inu crypto supporters have petitioned on Change.org for the buying and selling platform to checklist SHIB. Nonetheless, the corporate stated it’s in no hurry to checklist further cash, stating: “We’re a extremely regulated firm in a extremely regulated trade, and we predict it’s essential that we get a bit extra readability from regulators.”
Final week, Robinhood started rolling out its crypto wallets to clients. “By March, we are going to broaden this system to 10,000 clients earlier than rolling out to the remainder of the Wenwallets waitlist,” the corporate stated.
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