According to the iFast Financial APP, it is reported that Robinhood (HOOD.US) is exploring the introduction of its own stablecoin. A spokesperson for Robinhood stated that there is currently 'no plan' to issue a stablecoin, but did not question the possibility.

If Robinhood launches its own stablecoin, it will mark the expansion of its cryptocurrency business, which has performed well in terms of trading volume recently. Some media outlets have pointed out that this move may also allow Robinhood to gain some market share in the stablecoin market dominated by Tether, mainly because of stricter regulations in Europe. According to the so-called MiCa rules, EU cryptocurrency exchanges may be forced to remove stablecoins issued by companies like Tether that do not have the required licenses.

It is worth mentioning that this is not the first time a fintech company has launched a stablecoin. In 2023, PayPal (PYPL.US) launched the PayPal USD (PYUSD-USD) stablecoin pegged to the US dollar, with a recent market cap reaching 1 billion US dollars.