Robinhood Expands Stablecoin Use, Joins Global Dollar Network

Robinhood is increasingly relying on stablecoins as part of its financial infrastructure and sees them as a long-term growth opportunity. The company uses stablecoins to settle transactions with market makers and liquidity providers and allows users to purchase Circle's USDC stablecoin without additional fees. Robinhood is also involved in the Global Dollar Network, which is a stablecoin pegged 1:1 to the US dollar that redistributes revenue among partners.