PANews reported on September 30 that according to Decrypt, Robinhood denied recent rumors about launching a stablecoin. Johann Kerbrat, vice president of Robinhood Crypto, said the company currently has no "immediate plans" to launch its own stablecoin. He said that despite the rumors, Robinhood has not discussed it in depth. Earlier reports indicated that Robinhood and Revolut were considering entering the stablecoin market, but Revolut has not yet commented on the news. The stablecoin market is currently dominated by Tether (USDT), and Robinhood has previously launched Circle's USD Coin (USDC).