thenewscrypto.com
- A program allowing $USDC holders to receive incentives of up to 10% has been launched.
- The news caused the HOOD stock price to rise over $19.
More than 25 cryptocurrencies are now available on Robinhood’s platform, thanks to the recent addition of Circle issued USD Coin ($USDC) by Robinhood’s European division. Plus, a program allowing $USDC holders to receive incentives of up to 10% has been launched by the crypto exchange. In addition, today’s pre-market session saw a roughly 12% rally in Robinhood stock.
The listing of $USDC stablecoin was revealed by the Robinhood EU branch in a post on X on March 14. This is a major milestone after the entrance of Robinhood into Europe in late 2023.
Rewards Program
Furthermore, the cryptocurrency exchange advertised the incentive scheme, saying that customers may receive 10% rewards on $USDC held natively in the Robinhood Crypto app under its current limited-time offer.
From March 1st through June 15th, Robinhood members who hold $USDC will be eligible for bonuses via the reward program. Customers may only claim their incentives if they possess $USDC and trade any supported cryptocurrency on the platform during the promotion period. The highest amount that participants may earn throughout the promotional time is €1,000 ($1,094) in $USDC, which is 10% of the total.
In addition, there is another program that offers €5 in $USDC to encourage users to interact with the platform and learn more about cryptocurrencies.
The news caused the HOOD stock price to rise over $19. On Thursday, March 14, before the market opened, the price of Robinhood stock increased 1.95 points, or 11.36%, to $19.11. A gap up from the last closing and more gains are possible as a result of the jump in Robinhood stock. At the time of writing, the Robinhood stock was trading at $18.30, up 6.99%.