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Robinhood recently announced updates to its Robinhood Gold membership, likening it to the personal finance equivalent of Amazon Prime. The company introduced a new credit card with virtual card capabilities, which was acquired and rebranded from the X1 card. This move is seen as a strategic shift to stabilize revenue by diversifying into credit services.
Operating its own credit card potentially gives Robinhood financial performance ballast against the more volatile revenue coming from stock, options and crypto trading. https://t.co/GeKhpyrWrq
Apparently the Robinhood credit card is the rebranded version of the X1 card after the acquisition
everyone is riding robinhood for creating an awesome new credit card by... acquiring a company that already had all of these features for 3 years and then nerfing the original product so the users have to switch over and pay a subscription fee https://t.co/XM3ZAHNehh
