In a recent podcast with Tony Edward (Thinking Crypto), Johann Kerbrat, Robinhood Crypto’s General Manager, hinted at the possibility of the firm developing its own stablecoin. Although he doesn’t confirm any official plans, Kerbrat discussed the importance of stablecoins and their role in the crypto space, shedding light on the company’s stance towards them. These comments have fueled speculations and discussions in the broader crypto community, especially amid the growing popularity of stablecoins.
Is Robinhood Eyeing Stablecoin Launch?
In a recent Thinking Crypto podcast, when asked about the firm’s approach to stablecoins, Kerbrat explained the company’s focus on accessibility. Currently, the firm has a partnership with Circle, enabling users to buy and sell USDC without any fees. Notably, Circle recently announced plans to collaborate with Sony to launch bridged USDC.
Meanwhile, he emphasized that the company’s primary goal is to make the crypto transactions as seamless as possible. By prioritizing user-friendly transactions, the platform aims to simplify how users enter and exit the stablecoin market.
However, Kerbrat voiced concerns about the reserves backing some stablecoins. He highlighted the risk of depegging and the importance of ensuring that stablecoins have proper backing. According to Kerbrat, Robinhood wants to guarantee that customers can redeem their holdings without any risk of losing value.
He stressed that before listing any stablecoin, the company carefully examines the stability of its reserves. While the collaboration with Circle makes USDC easily accessible on its platform, Kerbrat hinted that the company is considering launching its own stablecoin.
Although he confirmed that no plans were in motion yet, he did not rule out the possibility. He assured that if the firm decides to introduce a stablecoin, they would announce it publicly, potentially returning to the podcast to share the news. These comments have fueled discussions, especially amid the rising popularity of stablecoins globally.
Legal Battle With The US SEC
In addition to discussing stablecoins, Kerbrat also addressed the firm’s ongoing legal issues with the U.S. Securities and Exchange Commission (SEC). The US SEC had sent Robinhood a Wells Notice earlier this year, which is a formal indication that the agency is considering taking enforcement action.
Meanwhile, Kerbrat expressed confidence in the company’s readiness to fight the SEC in court, signaling that the company remains committed to defending its practices. The firm’s legal struggle with the SEC reflects the broader regulatory challenges facing the crypto industry.
As regulators increase scrutiny, companies like Robinhood are navigating a complex landscape, balancing compliance with innovation.
The post Is Robinhood Planning To Launch Its Own Stablecoin? appeared first on CoinGape.
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