ChainCatcher reported that according to Decrypt, Robinhood denied speculation that the company was entering the stablecoin market and confirmed on Monday that Robinhood (HOOD) had no "short-term plans" to launch its own stablecoin.

Johann Kerbrat, vice president and general manager of Robinhood Crypto, said: "At present, we do not have any immediate plans to launch a stablecoin. Rumors are always interesting, but we don't really spend time on it."