Leading trading platform Robinhood has revealed the appointment of Christine Brown as COO. Brown will handle the company’s crypto operations and compliance. As per the official announcement, the Robinhood Crypto team has already tripled this year as the company appointed people across different departments, including compliance, engineering, and security. The crypto trading platform is preparing to extend its product offerings in the future.
Christine Brown has over ten years of experience in product management and operations. She joined Robinhood in 2017 and performed a significant role in the company’s development. Moreover, Robinhood emphasized Brown’s performance in the company’s product operations department. Further, she also led the product strategy for Clearing by Robinhood Securities. It is the only security system developed from scratch. Brown, the recent Vice President of Operations at Robinhood Markets, will also supervise Robinhood Crypto following the appointment.
Robinhood Witnesses Growth in Crypto Trading
As per the declaration, Brown’s appointment will further stimulate the development of Robinhood Crypto. According to the reports, over 6 million new consumers purchased crypto on the platform in the first two months of 2021. By the end of Q1 2021, Robinhood unveiled that 9.5 million consumers had traded crypto on its platform. This figure indicates a 500% increase in the figures recorded for Q4 2020. Admittedly, Robinhood elucidated that its crypto business has increased three-fold in 2021, with CEO Vlad Tenev affirming plans for additional expansions back in March.
At the time, Tenev also revealed plans to list more trading pairs and the likelihood of producing a cryptocurrency wallet. Recently, the retail trading app supports Ether (ETH), Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), and Ethereum Classic (ETC) in its crypto trading catalogue. Moreover, Robinhood’s crypto business extension has come amid an apparent wave of interest in financial education. Trading apps provided by Robinhood and American exchange giant Coinbase witness more downloads on smartphone app stores than well-known social media platforms such as TikTok.
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