Jay Z invests in Robinhood cryptocurrency trading platform

nRunaway Comment: In addition to the financial sector, more and more different types of businesses are also beginning to be interested in cryptocurrency and investing in it. Recently, Arrive, a unit of Jay Nation’s Roc Nation, announced that it has invested in Robinhood’s cryptocurrency trading platform and expressed its desire to support its vision of providing a better financial market experience for customers of all sizes. In general, more and more investments are beneficial to all participants in the field of cryptocurrencies.n
nTranslation: Inan
Roc Nation, a well-known rap artist and producer Jay Z, an entertainment company founded in 2008, has started investing in Robinhood’s cryptocurrency trading platform.n
Arrive, an affiliate of Roc Nation, announced the news in an official statement. The statement underscored the importance of Robinhood’s cryptocurrency business and added: “Robinhood Crypto will bring commission-free Bitcoin and Ether traffic to the Robinhood platform.”n
Neil Sirni, head of Arrive, wrote:n
n”We believe the mission of Baiju and Vlad is to make the financial markets more accessible and cost-effective for customers of all sizes and Robinhood will gain our support for its long-term vision.”n
nAccording to Robinhood, more than a million users have applied to join the waiting list for Robinhood Crypto. Robinhood Crypto is a platform that uses the same application to allow everyone to trade stocks, ETFs and major cryptocurrencies, such as bitcoin and ether, simultaneously.n
Robinhood’s move to cryptocurrency markets is well anticipated by the global cryptocurrency market as most of Robinhood’s clients come from traditional financial markets, trading stocks, ETFs and commodities on a daily basis. The launch of Robinhood Crypto is expected to present millions of users of the Robinhood platform with relatively new assets such as cryptocurrencies.n
Many in the crypto community would also like to see if Robinhood has the potential to evolve into Coinbase’s first real competitor, one of the largest in the field, with other large companies including Bitmain and Binance.n
Although the launch of Robinhood Crypto is highly anticipated, according to Arrive’s statement, Robinhood only has more than 3 million subscribers and has a market capitalization of $ 1.3 billion. Some companies in the cryptocurrency space, such as Coinbase and Binance, have a larger user base and higher market capitalization. As a result, the impact of Robinhood’s entry into the cryptocurrency market may be overstated.n
In contrast, Coinbase has more than 10 million subscribers in November 2017. In just six months, Binance also absorbed more than 6 million users and added 1 million users per month. Given that Binance and Coinbase have at least three million more users than Robinhood, the rollout of Robinhood Crypto may be overstated.n
More importantly, although there are now over 1 million people who are applying to become Robinhood Crypto users, some of these may already be users of Coinbase and Binance, and the registration of Robinhood Crypto just want to use multiple crypto currency trading platforms.n
However, large companies outside the financial and crypto-currency sectors are still willing to invest in cryptocurrencies and exchanges, and still show signs of optimism. Clearly, the cryptocurrency market and most of the businesses in this space are still in their infancy in terms of user activity, market valuation and scalability.n
Well-known investors invest millions of dollars in cryptocurrencies in the interest of all participants, including businesses and customers, because businesses can have more capital to sustain their operations while customers can Benefit from competition in this area.n

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