Robinhood maps out new crypto coins, retirement product, international expansion

Jan. 28, 2022 8:18 AM ETRobinhood Markets, Inc. (HOOD)By: Liz Kiesche, SA News Editor12 Comments

Vlad Tenev, CEO And Co-Founder, Robinhood

Kimberly White/Getty Images Entertainment

Robinhood Markets (NASDAQ:HOOD) co-founder and CEO Vlad Tenev outlines a number of new products coming out this year during the fintech's Q4 earnings call.

The company's stock, though, stays weak after it posted a wider-than-expected loss in Q4 and issued soft revenue guidance for Q1 2022. Robinhood (HOOD) stock slides 14% in premarket trading.

Robinhood (HOOD) plans to add more coins to its cryptocurrency trading capabilities. While securities regulators are watching the space closely for coins that would be considered unregistered securities, Tenev said he's comfortable with Robinhood's (HOOD) analysis and "we intend to add more coins going forward.

The fintech expects to launch a fully-paid securities lending program in the first half of 2022, though it's still discussing the product with regulators.

In addition, it's planning to roll out a feature that expands available trading hours later this quarter.

The company is working on introducing more offerings that make investing routine, he said. Tax-advantaged retirement accounts will begin rolling out to customers midyear.

On spending and saving products: "In the coming months we will be introducing a new experience for day-to-day spending," Tenev said. "With this new experience we believe we can serve customers who aspire to be investors, but aren't quite ready to set aside money to get started. We can help them build their portfolios, while serving their daily spending needs."

In the payments space, in the next few months, Robinhood (HOOD) will introduce instant debit card deposit and withdrawals, "and we'll look for additional rails from there," Tenev said.

The fintech also aims to expand its crypto app internationally. "The investments we've made in crypto over the past year have put us in a great position to expand. In 2022, we've set aggressive goals to start opening our crypto platform up to customers internationally."

While, the product expansions are all aimed to fuel growth, its addition of customers is expected "to come in waves with periods of both outsized and slower growth, much of it linked to product launches, geographic expansion and, of course, market factors."

SA contributor Michael Wiggins De Oliveira see little worthwhile investing in the stock.

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