On Wednesday, users will be able to move the stablecoin from the Robinhood Polygon network and the Ethereum network.
Circle’s USDC stablecoin is now available to retail traders through the online broker Robinhood Markets (HOOD). This happened on Tuesday.
In a tweet, the company said that the service would also be transferable on the Polygon and Ethereum networks on Wednesday.
“The addition of USDC to Robinhood is a clear sign that the platform is looking abroad, where stablecoins are more popular and useful for investors,” Bryan Hernandez, president and co-founder of decentralized finance (DeFi) app Structure, told a news outlet.
“Theoretically, adding USDC could make it possible for Robinhood users to send payments for a wide range of reasons, just like you might imagine Venmo or PayPal users being able to do,” he said.
Hernandez also said that he sees more use for international users because there are already money transmitters on the domestic market.
“Because the U.S. market is full of well-established money transmitters, stablecoins are less important for the peer-to-peer transaction benefits international users would get,” he said.
Other global crypto exchanges, like Binance and WazirX, have said they will delist USDC in favor of other stablecoins. This is why the move was made.
In July, Robinhood began to offer the UNI token from Uniswap.
The chief technology officer of Robinhood, Johann Kerbrat, said on Twitter on Tuesday that he will talk more about the addition of USDC and what might happen next at the Converge22 conference in San Francisco next week.