Robinhood Markets Inc. (NASDAQ: HOOD) has set 'aggressive goals to start opening its crypto platform up to customers internationally in 2022,' the company revealed during its Q4 earnings call. The popular trading platform stated that 'the company believes in the immense potential of the crypto economy and sees a big opportunity in serving customers across the globe.'
Financial Highlights: Crypto Revenue Soars
Robinhood reported Q4 2021 total net revenues of $363 million, up 14% year-over-year, while full-year revenues reached $1.82 billion, an 89% increase. Transaction-based revenues, including crypto trading fees, totaled $264 million in Q4 and $1.40 billion for the year. Cryptocurrency revenue jumped 304% in Q4 to $48 million, compared to $12 million in Q4 2020, and full-year crypto revenue surged from $27 million in 2020 to $419 million — a more than 15-fold increase.
However, average revenue per user (ARPU) declined: Q4 annualized ARPU fell 39% to $64, and full-year ARPU dropped 5% to $103 versus $109 in 2020.
International Expansion Plans
Robinhood emphasized its commitment to going global, stating it has set 'aggressive goals to start opening its crypto platform up to customers internationally in 2022.' While specific countries and timelines were not disclosed, the move marks a significant step beyond the U.S. market. Currently, the platform supports buying, selling, and real-time market data for Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).
New Listings and Wallet Rollout
Despite a Change.org petition urging Robinhood to list Shiba Inu (SHIB), the company said it is in no hurry to add new coins. 'We're a highly regulated company in a highly regulated industry, and we think it's important that we get a bit more clarity from regulators,' Robinhood stated. Last week, the company began rolling out crypto wallets to customers, with plans to expand the program to 10,000 users by March before a broader release to the waitlist.
Analysts suggest that Robinhood's international push may face varying regulatory hurdles across jurisdictions, but its brand recognition and commission-free model could help it capture market share in the global crypto trading landscape.