Robinhood Markets explained the California-based financial services firm's partnership with Circle in an "Under the Hood" blog post on Wednesday.
Circle Financial after the company's beta Web3 wallet went live on Tuesday and the stablecoin USD coin was listed on the trading platform Robinhood Crypto last week.
Users of Robinhood Crypto and Robinhood Wallet will be able to buy and sell US dollars under the terms of the arrangement announced on Wednesday. They will also have access to "unique in-app training modules to earn USDC awards."
Circle and Robinhood Team Up to Provide USDC Accessibility
Robinhood Markets explained the California-based financial services firm's partnership with Circle in an "Under the Hood" blog post on Wednesday. The first stablecoin to be available for purchase and sale on Robinhood Crypto and the new Robinhood Wallet is the stablecoin USD coin (USDC), according to Robinhood.
According to Johann Kerbrat, the chief technology officer and general manager of Robinhood Crypto, USDC will be essential in assisting our consumers in transferring money into Web3 through a reliable and open source. The ability for our clients to use Web3 dapps and defi without being exposed to market volatility is a crucial addition to our solution, Kerbrat continued.
Duo intends to introduce "Learn and Earn" initiatives that reward users with USDC.
During the Converge22 conference in San Francisco, Kerbrat disclosed the strategic alliance with Circle. On Wednesday, Circle also disclosed its collaboration with Robinhood. Circle added that the two companies would also provide "unique in-app training modules to earn USDC awards."
The backing of Robinhood, according to Circle co-founder and CEO Jeremy Allaire, "reinforces the importance USDC plays in expanding payments and commerce use cases." Additionally, USDC can be used and transferred on the most recent Web3 Robinhood Wallet, which was released in beta to 10,000 Robinhood users. Regarding the educational modules, Robinhood said that Circle and it collaborated closely to develop the "Learn and Earn" programmes.
All Robinhood Crypto users will have access to the "Learn and Earn" programmes directly through the company's application. According to Robinhood's statement, the educational courses will "be rolling out globally over the next months." With a $49.11 billion market cap on September 28, Circle's USDC is the second-largest stablecoin by market valuation.
