It is important to note that all qualified users of the Robinhood app who have direct access to the WebWallets functionalities are eligible for this new support.
Robinhood Markets Inc (NASDAQ: HOOD) has in a recent report announced that it is adding new features to the likes of Bitcoin, Ethereum, Shiba Inu, and other cryptos following popular requests by users. According to the report, users can now send and receive all the listed crypto assets on its platform.
“Crypto transfers are here. You can now send and receive all listed crypto assets on Robinhood,” announced Robinhood.
It is important to note that all qualified users of the Robinhood app who have direct access to the WebWallets functionalities are eligible for this new support.
The crypto exchange this year launched its wallet functionality and activated its payout and deposit facilities today. It can be recalled that Shiba Inu was added in April this year after customers petitioned the asset’s inclusion on change.org. Interestingly, four cryptos namely Compound (COMP), Polygon (MATIC), Solana (SOL), and Shiba Inu (SHIB) were added in April.
In a statement, the exchange admitted that its customers have consistently asked for two things – a broader selection of cryptos, and the ability to send and receive their assets. The decision to roll out a wallet for every eligible person on a waitlist of more than two million and the effort to list these new tokens were to meet the growing request of customers.
“We’re excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto,” said Steve Quirk, Chief Brokerage Officer at Robinhood. “As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform,” he added.
Robinhood ventured into the crypto exchange in 2018 and has since then gained the trust of many digital asset users. Just last month, Bloomberg reported that crypto exchange, FTX, was exploring possibilities to buy Robinhood. However, FTX CEO Sam Bankman-Fried denied the claim. According to him, there is no active conversation between the two parties but there could be a potential way FTX can partner with them. He also expressed his excitement about Robinhood’s business prospects and lauded the effort of the team.
It is important to note that Robinhood is not a crypto-focused company regardless of its recent move in the industry.
Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
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