In its forecast for 2022, Robinhood said it’s planning to expand its services by helping people invest as well as move money faster, according to a press release regarding the company’s fourth quarter earnings results.
The company said in the release it will focus on three areas for the future: “being the best place to get started investing, helping first time investors grow into long-term investors, and continuing to serve advanced investors with the power and simplicity they need.”
The goal is to build new products to help with long-term investments, so customers can save more in the long run. Tax-advantaged retirement accounts will come out around the middle of the year, the release stated.
In addition, Robinhood plans to invest in spending and savings products and will debut a new experience for day-to-day spending, which will let customers build a portfolio, according to the release.
The company will also allow for more money moving and plans to introduce instant debit card deposits and withdrawals in the next few months, the release stated.
Robinhood said in the release it plans to open its cryptocurrency platform for international customers.
Looking back on Q4 2021, Robinhood said in the release that it saw success in introducing first trade recommendations to help users get started, and it added new features to help transfer assets from other brokerages and improve options experiences for customers.
Robinhood said in the release that it anticipates its total net revenues for the first quarter of 2022 to be under $340 million, which assumes an incremental improvement in trading volumes. It also assumes a 35% decline in revenue year over year, although that number was distorted in 2021 because of the meme stock fascination that happened in the early months of the year.
In other news, Robinhood debuted a crypto wallet earlier this month, which initially went out to 1,000 customers to “fully connect” them to the blockchain ecosystem.
Read more: Robinhood Releases Crypto Wallet, With Its Eyes on a Bigger Prize
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