With the new year just around the corner, U.S. fintech Robinhood shared the growth and successes its platform experienced in 2019. The company revealed in a blog post:
“As we get ready to close out 2019, first and foremost we want to say thank you to each and every one of our customers for another incredible year. We believe participation is power, and with your continued passion, support, and feedback, more than 10 million people are now able to access the financial markets through Robinhood.”
Robinhood also revealed that it introduced a range of new products and features to help users manage their money, including:
- Cash Management: Invest, spend and earn interest with a competitive Annual Percentage Yield (APY)* that is 1.80% as of October 30, 2019. This feature is rolling out to customers now.
- Fractional Shares: Rolling out this week, this gives uses the flexibility to invest as little as $1 or as much as they want in the companies or ETFs they believe in.
- Robinhood Crypto: Robinhood continued to expand its crypto offering. Users can now buy & sell seven cryptocurrencies commission-free in 46 states and Washington, D.C.
Robin then noted:
“In 2019, we also saw exciting industry-wide change that removed a needless barrier for millions when some of the biggest brokerages followed our lead by dropping their commission fees. This change we pioneered is promising, but our work is far from done.”
In regards to the upcoming year, Robinhood added:
“As we look forward to 2020, we’ll continue to challenge the industry and create a more level playing field for everyone – whether you’re a first time or seasoned investor. And, we’ll continue bringing Robinhood to even more customers in the US, and our first customers in the UK!”