Adding stock trading features to its P2P payment platform could help Square add more users:
Although the fee-free stock trading addition may not have a similar revenue generation impact, at least initially, the feature can help the company maintain its user growth lead over Venmo, which does not offer crypto or stock trading at the moment.
Moving into stock trading will also make Square a direct competitor to the likes of Robinhood and eventually established brokerage firms like E*Trade. Robinhood — thevalued investment fintech — is likely to be the most directly impacted by Square's move into stock trading given its fee-free trading is one of its core propositions.
By offering stock trading to Cash's suite of capabilities, the company can potentially take existing and future customers away from Robinhood. And Robinhood's recent falters, including its failed attempt to launch high-interest-paying savings accounts as well as a data privacyBut it's not just fintechs that Square will pose a threat to: A successful stock trading launch can make Square a danger to established brokerage firms as well.
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