Robinhood Surpasses $1 Billion in Q4 Revenue... Cryptocurrency Trading Volume Soars 450%

The U.S. stock trading platform Robinhood's revenue for the fourth quarter of last year surpassed $1 billion. This was influenced by a more than 450% surge in cryptocurrency trading volume over the past year.

Robinhood announced on the 12th (local time) that its fourth-quarter revenue last year was $1.01 billion (approximately 1.47 trillion won), a 115% increase from a year ago.

Cryptocurrency trading revenue increased by more than 700% to $358 million, accounting for more than half of the total trading-based revenue of $672 million. Cryptocurrency trading volume ($71 billion) also surged more than 450% compared to the previous year.

Revenue was recorded at $916 million, more than a tenfold increase from the previous year, exceeding market expectations by more than 9%.

Meanwhile, Robinhood agreed to acquire the cryptocurrency exchange Bitstamp for $200 million last year. The plan is to expand cryptocurrency services targeting institutional investors in the United States. Approval from regulatory authorities is expected to be completed within the first half of this year.