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In temporary:

• Robinhood has secured $280 Million Series F funding after an $8.3 Billion valuation. 
• The funding will drive a push to broaden the platform globally. 
• Robinhood additionally plans on scaling the platform and providing extra merchandise to customers. 

The group on the widespread buying and selling platform of Robinhood has announced that the agency has secured $280 Million collection F funding after an $8.3 Billion valuation. The spherical of funding was lead by Sequoia Capital which is an present investor of Robinhood. Other present and new traders that participated in the Series F funding embody NEA, Ribbit Capital, 9Yards Capital and Unusual Ventures.

New Funding to Push for Global Expansion

The group went on to elaborate that the funding shall be used to scale the platform, construct and develop new merchandise and speed up their enlargement. In a recent interview with Fortune, the co-CEO of Robinhood, Vlad Tenev, additional elaborated on this objective as follows:

The goal of the capital increase is to allow us to have flexibility and be strategic, and proceed to make investments in the platform.

We envision that over the following few years, Robinhood will broaden globally and proceed rolling out extra merchandise.

Stability Concerns Still Linger

Amidst the present inventory and crypto market volatility, Robinhood has managed to add greater than 3 Million funded accounts up to now this 12 months. According to Robinhood, half of their new clients are first-time traders.

However, the steadiness of the platform has been questioned by not solely Millenials preferring utilizing the platform, however by traders who’re ready for Robinhood to go public via an IPO. During the Coronavirus crash of 2020, the platform suffered an outage on 2nd March. The day proved to be probably the most unstable due to the financial results of COVID19. Trading features have been absolutely restored on the ninth of March which is a full week after the occasion.

Trading has been restored and Robinhood is again up and working once more. Thank you to your endurance as we resolved this difficulty.

— Robinhood Help (@AskRobinhood) March 9, 2020

List of Cryptocurrencies Available for Trading on Robinhood

At the time of penning this, Robinhood at the moment helps buying and selling of the next cryptocurrencies.

(Feature picture courtesy of Unsplash.com.)

Disclaimer: This article will not be meant to give monetary recommendation. Any further opinion herein is solely the writer’s and doesn’t signify the opinion of Ethereum World News or any of its different writers. Please perform your personal analysis earlier than investing in any of the quite a few cryptocurrencies accessible. Thank you.