Popular in the United States crypto-related app Robinhood has presented a brand-new service “Robinhood Checking & Savings,” according to CNBC.
Robinhood is the U.S.-based fintech company with HQ in Menlo Park, CA. It offers exchange services with following cryptos: bitcoin (BTC), ethereum (ETH), litecoin (LTC), bitcoin cash (BCH), ethereum classic (ETC), and dogecoin (DOGE).
The new program offers checking and savings accounts without any fees and pays an interest rate roughly thirty-times the national average, CNBC reports.
Co-CEO of Robinhood Baiju Bhatt said Robinhood is going “make the financial services industry more inclusive and is going to do it with zero commissions, a lower cost structure, and by relentlessly automating and building an engineering-first company.”
It says the startup will divide revenue from debit card transactions in a partnership with MasterCard.
In 2018 Robinhood saw giant growth, rising from five to six million customers.
And it seems Robinhood is doing good, given the fact that earlier the company hired a former Amazon executive to help Robinhood prepare “for an eventual public debut.”
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