- Coins and stocks are both available for trading on Robinhood.
- WazirX will no longer support the stablecoins USDC, USDP, and TUSD.
According to the company’s Twitter, Robinhood has added support for trading USDC. The online brokerage platform has lately been adding new cryptocurrencies for trading, and USDC is the most recent addition.
#USDC is now on Robinhood @circlepay #StableCoin #CryptoListinghttps://t.co/OL7fXLffHW pic.twitter.com/EUNLPpvGUu
— Robinhood (@RobinhoodApp) September 20, 2022
Coins and stocks are both available for trading on Robinhood. The cryptocurrency market is expanding to include stablecoins like USDC in addition to the newest cryptocurrencies. Tokens in the cryptocurrency market known as “stablecoins” are tied to a stable value, such as a national currency or a rare commodity.
One Lists While Other Delists
Robinhood currently accepts 17 different cryptocurrencies, and this number is only expect to grow. At the time of writing, the USDC market cap was $50,149,768,741, with a trading volume of $4,783,327,515.
Since it is the first stablecoin available on Robinhood, users can rest certain that their investment in USD Coin is backed 100% by US Dollars or comparable.
Regarding Stablecoins, Robinhood has not yet revealed any plans. It’s also not clear whether they plan to add anything further to their discussion in the near future. Considering the state of the market, the platform is probably taking a cautious approach to introduce new currencies. The crypto winter has forced firms to make wise decisions.
On September 26th, WazirX will no longer support the stablecoins USDC, USDP, and TUSD. According to a blog post published on Monday, the Indian cryptocurrency exchange has also ceased accepting deposits for the above-mentioned stablecoins.
WazirX said that customers may withdraw the aforementioned stablecoins until September 23. Customers’ stablecoin balances will be converted immediately at a 1:1 ratio to Binance’s BUSD stablecoin.
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