XRP, ADA, and SOL Now Available for Robinhood’s US Customers

by

As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed countless evolutions and transformations. The latest move by Robinhood to expand its altcoin offering for US customers is indeed an interesting development.

The well-known, no-commission trading platform Robinhood has substantially broadened the range of cryptocurrencies available for their US clients.

Moving forward, U.S. customers of Robinhood can now conduct trades for digital assets like Ripple‘s XRP, Solana (SOL), Pepe (PEPE), and Cardano (ADA).

As a crypto enthusiast, I’ve noticed an exciting expansion: The number of cryptocurrencies accessible within the U.S. has now grown to 19! It’s worth mentioning that platforms like Robinhood have jumped on board, adding popular tokens such as Dogecoin (DOGE), Avalanche (AVAX), and Shiba Inu (SHIB) to their roster. This expansion not only opens up more investment opportunities but also makes it easier for us to diversify our crypto portfolios.

According to Johann Kerbrat from Robinhood Crypto, there is a growing interest among their users for the addition of more cryptocurrencies to their platform.

By June 2023, it was disclosed that the trading platform would no longer support ADA, SOL, and Polygon (MATIC) due to a classification of these tokens as securities by the SEC in legal actions against Binance and Coinbase, the top cryptocurrency trading platforms.

In the chilly month of last December, I, as a researcher, observed that Robinhood introduced cryptocurrency trading within the European Union. Interestingly, among the coins available for trade, some had been removed from their EU offerings.

With the SEC starting to relax its rules, Robinhood now feels comfortable enough to provide a variety of alternative cryptocurrencies to users based in the United States too.

According to U.Today’s report, it’s anticipated that the Securities and Exchange Commission (SEC) will soon dismiss all non-fraud related cryptocurrency cases.

Read More

2024-11-13 17:44