According to BlockBeats, on September 30, Decrypt reported that 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.

“Right now, we don’t have any immediate plans to launch a stablecoin,” said Johann Kerbrat, vice president and general manager of Robinhood Crypto. “Rumors are always interesting, but we don’t really spend time on them.”