robinhood (NASDAQ:HOOD) announced several new features and services at an event in London today. According to a note from the firm, Robinhood UK will soon offer crypto trading services in the country. Robinhood described the new service as part of its mission to be an all-in-one investing platform.
Additionally, Robinhood has unveiled its own in-house L2 blockchain, Robinhood Chain, built on Arbitrum, with updated tokenized securities and perpetual assets available across Europe.
Johann KerbratRobinhood Senior Vice President and General Manager of Crypto and International said they are expanding financial services to every corner of the world by bringing the best of TradFi and DeFi.
Security tokens or digital securities are now available in more than 120 countries. The first generation security tokens are now called “Classic Equity Tokens” and will continue to be available.
Robinhood Earn is now available for US users, lending to USDG and earning around 7% APY. Morpho.
Robinhood highlighted new services recently introduced to U.S. users, such as brokered trading; The company recently expanded into Canada. WonderFi and recently received its capital markets license. Monetary Authority of Singapore.
The goal of both traditional and modern investment platforms is to be a single platform that supports the user’s entire financial existence. Offering a full range of banking, investment and ancillary services, these companies hope to lure customers away from less nimble providers who hope inherent friction will buy them time to adapt. At the same time, platforms like Robinhood have become very popular among young investors due to their ease of use and the portfolio they offer. Friction may work for both, as older users move forward and platforms like Robinhood may find themselves gaining market share due to both services and cost.
