Robinhood EU Expands Crypto Offerings and Rewards USDC Holders
Robinhoodโs Europe division has made several significant announcements recently, including the listing of USD Coin (USDC) on its platform and the introduction of a rewards program for USDC holders. These developments come as the Robinhood stock experiences a surge in value.
Listing of USDC Stablecoin and Reward Program
Robinhood EU announced on March 14 that it has listed USDC, a stablecoin, on its platform. This move is seen as a major accomplishment following the companyโs expansion into Europe in late 2023. Along with the listing, Robinhood introduced a limited-time reward program for USDC holders.
- The reward program is available to customers who hold USDC from March 1 to June 15.
- To qualify for the rewards, participants must hold USDC at any time during the offer period and trade any supported cryptocurrency on the platform.
- Users can earn rewards of up to 10%, with a maximum payout of โฌ1,000 ($1,094) in USDC during the promotional period.
In addition to the reward program, Robinhood EU has launched another initiative called โUSDC Learn and Earn.โ This program aims to incentivize users to engage with the platform and expand their knowledge of cryptocurrencies. Users who participate in this campaign can earn โฌ5 of USDC by accessing the โLearn about cryptoโ section on their crypto home tab and selecting the โLearn and Earn โฌ5 USDCโ option.
Rise in Robinhood Stock Price
The announcement regarding the listing of USDC and the rewards program has had a positive impact on the Robinhood stock price. In the pre-market session on Thursday, March 14, the stock price surged by 11.36% to reach $19.11, up by 1.95 points.
- If the Robinhood stock price opens at this pre-market level, it could set a new 52-week high. The current 52-week high for the HOOD stock is $17.62.
- The recent rally in the stock price has helped recover the losses incurred earlier in the week.
On Wednesday, the HOOD stock closed at $17.16, representing a gain of 4.70% or 0.77 points. However, on Tuesday, March 12, the stock price experienced a decline of 2.96%, closing at $16.36.
Hot Take: Robinhood EU Expands Crypto Offerings and Rewards USDC Holders
Robinhoodโs Europe division has made significant strides in expanding its cryptocurrency offerings and providing incentives for USDC holders. The listing of USDC on its platform and the introduction of a rewards program have generated excitement among investors and traders alike.
The surge in the Robinhood stock price is a testament to the positive impact of these developments on market sentiment. As Robinhood continues to expand its presence in Europe and enhance its offerings, it is poised for further growth and success in the crypto industry.
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