Shiba Inu, Solana Tokens Among 4 Added to Robinhood

SHIB, SOL, Polygon’s MATIC and Compound’s COMP tokens were added to Robinhood Crypto.

AccessTimeIconApr 12, 2022 at 11:38 a.m. UTC
Updated May 11, 2023 at 5:29 p.m. UTC
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Four popular cryptocurrencies, including the tokens of Shiba Inu and Solana, have been listed on the trading platform Robinhood, the website shows.

A blog post on Robinhood's website later confirmed the offerings.

  • SHIB, SOL, Polygon's MATIC and Compound's COMP tokens were added to Robinhood Crypto, the platform's crypto-focused trading platform.
  • SHIB prices surged some 7% in the past hour, data from CoinGecko shows. It is the second memecoin to be listed on Robinhood, alongside Dogecoin's DOGE. COMP jumped 6.6%, MATIC added 3.5% and SOL 2%.
  • "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," Robinhood's chief brokerage officer, Steve Quirk, said in the company's blog post.
  • He added that the assets are available to buy and sell now on the Robinhood app, but deposits and withdrawals for them won't be available immediately.
  • The additions come after the company said last week it activated its crypto wallet for 2 million eligible customers, making digital asset transfers broadly possible in the investments app.
  • Speculation centered last year around potential crypto offering additions from Robinhood, though CEO Vlad Tenev had told investors the company would await regulatory clarity before doing so.
  • Robinhood already offered seven cryptocurrencies including bitcoin (BTC), ether (ETH) and dogecoin (DOGE).

UPDATE (April 12, 13:01 UTC): Adds link to Robinhood's blog post and company comment.

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