The crypto-trading division of Robinhood was said to see an eight-fold jump in the turnover of digital assets transactions in the last quarter of last year.
According to a new investment of Robinhood reportThe HandelsApp giant saw an increase in order-based income on an annual basis of 200%, largely as a result of crypto.
“The total net turnover increased by 115% on an annual basis to $ 1.01 billion.
Transactions-based income rose by more than 200%on an annual basis to $ 672 million, mainly driven by cryptocurrencies turnover of $ 358 million, a turnover of more than 700%, a turnover of $ 222 million, an increase of 83%and a Turnover of shares of $ 61 million, an increase 144 %.
The net interest rate tent rose by 25% on an annual basis to $ 296 million, mainly driven by growth of interest-earning assets, partly compensated by a lower federal fund rate.
Other turnover increased by 31% on an annual basis to $ 46 million, mainly as a result of increased income from Gold subscription. “
According to a Reuters reportThe newest progress of Robinhood in Crypto solid the trade app as a top rival for the leading Crypto exchange coinbase established in the US.
Says Paul Marino, Chief Revenue Officer at Themes ETFs (listed funds), of the success of Robinhood.
“The fact that Robinhood had such an increase in income on his entire platform is more than just an appetite at the risk of the market – it is also proof of approving his platform and the fact that the next generation of traders are preferred Giving to what Robinhood is offering versus competitors. “
Coinbase is on schedule to release its own quarterly win report later today.
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