It has been a giant 12 months for crypto, and Robin Hood shared some stats as we speak, offering extra proof that the crypto increase is extra than simply hype – no less than for now.

In a single WeblogRobinhood Crypto Operations Supervisor Christine Brown revealed that within the first quarter of 2021, 9.5 million of her prospects traded crypto by way of the corporate’s platform. That is considerably greater than the 1.7 million prospects who traded cryptocurrencies within the fourth quarter of 2020. The corporate first launched its Crypto unit in January 2018, however didn’t present figures throughout of earlier quarters.

In February, Robinhood revealed he had seen six million new prospects on Robinhood Crypto within the first two months of this 12 months alone. This compares to a excessive of 401,000 in a single month in 2020, with a month-to-month common of round 200,000 prospects.

Brown says the corporate’s intention behind launching Robinhood Crypto was primarily to offer its shoppers the power to purchase and promote cryptocurrency along with the vary of property provided by its brokerage, Robinhood Monetary.

Robinhood Crypto presently gives seven exchangeable cash: Bitcoin, Bitcoin Money, Bitcoin SV, Dogecoin, Ethereum, Ethereum Basic and Litecoin.

Brown additionally famous that Robinhood’s crypto staff has already greater than tripled for the reason that begin of the 12 months, though it isn’t solely clear what number of employees they presently have on that staff. There are a selection of crypto-related alternatives on his profession website, together with an open position of “Crypto CFO”.

The corporate is making it clear that crypto is a vital a part of its total enterprise and its mission to democratize entry to the lots.

“All it takes to spend, commerce and retailer cryptocurrency, in concept, is an web connection – you needn’t entry a big line of credit score or start-up capital. Brown wrote. “You do not even must be awake at a sure time of day to commerce. The crypto market shouldn’t be closing. Crypto was born out of a mission to take energy away from establishments and return it to the individuals. “

Final August, Robinhood raised an extra $ 200 million with a brand new increased valuation of $ 11.2 billion in its third increase of the 12 months earlier than submitting its candidacy in March. The corporate has had a tumultuous 12 months or in order that has been stuffed with time in Congress, poor person suicide public relations, and settlements with the SEC.

In the meantime, TechCrunch additionally reported earlier this week that first quarter 2021, American client cryptocurrency buying and selling big Coinbase strongly elevated, on the identical time producing strong earnings. Particularly, the corporate reported gross sales of $ 1.8 billion within the first quarter of 2021, in comparison with $ 585.1 million within the fourth quarter of 2020. Web earnings totaled “roughly $ 730 million to $ 800 million. of {dollars} ”, in comparison with 178.8 million {dollars} within the fourth quarter of 2020.

This text has been up to date after publication with a number of extra points