Robinhood Markets launched its beta Web3 wallet on Tuesday and usd stablecoin on exchange platform Robinhood Crypto last week. Following the listing, the company announced a strategic partnership with Circle Financial. The deal, revealed Wednesday, will give Robinhood Crypto and Robinhood Wallet users the ability to buy and sell usd coins and access “a dedicated in-app education module to earn USDC rewards.”
Robinhood and Circle have partnered to provide access to USDC
on Wednesday,Robinhood Markets (Nasdaq: HOOD) published a“Under Hood” blog postUnder the Hood” blog postdescribing how the California-based financial services firm has joined forces withCircle. Robinhood detailed that the stablecoinUSD Coin (USDC)is “the first stablecoin that can be traded on Robinhood Crypto and the new Robinhood Wallet (currently in beta).”
“USDC will play a key role in helping our customers get their dollars to Web3 through a trusted and transparent source.” Johann Kerbrat, Chief Technology Officer and GM of Robinhood Crypto, said,” It is an important addition to our product that will allow our customers to experience web3 dapps and defi without exposing themselves to the volatility within the market.” Kerbrat added.
The duo plans to launch a “learn and earn” program that will reward customers at USDC
Kerbrat revealed its strategic partnership with Circle at aKerbrat revealed its strategic partnership with Circle at a Converge22 event in San Francisco. In addition, Circleannounced a partnership with Robinhood on Wednesday as welland Circle also said that the two businesses will also offer “exclusive in-app educational modules to earn USDC Rewards.”
Jeremy Allaire, co-founder and CEO of Circle, said Robinhood’s support “enhances the role USDC plays in larger payment and commerce use cases.” USDCcan also be used and transferred with the latest Web3 Robinhood Wallet, which has launched in beta to 10K Robinhood customers. As for the education module, Robinhood detailed that it worked closely with Circle to create the Learn and Earn program.
The “Learn and Earn” program will be available to all Robinhood Crypto customers directly within its application. The educational module will be “rolled out widely in the coming months,” Robinhood’s announcement disclosed. Meanwhile, Circle’s USDC is the second largest stablecoin by market valuation, with a market cap of $49.1 billion on September 28.
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