Robinhood Crypto has announced the re-listing of three major altcoins—Solana (SOL), Cardano (ADA), and Ripple (XRP)—on its U.S. trading platform, as detailed in a press release on Wednesday. The platform has also introduced support for the meme token Pepe (PEPE), bringing its total number of available digital assets to 19.
Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, explained that strong customer demand led to this expansion. “We’ve consistently heard from our customers that they want access to more digital assets,” said Kerbrat. He further pointed out that Robinhood wants to share more and create new investment opportunities with existing and new clients through its innovations. He also said that the company sees crypto as an opportunity to offer new financial services to those with limited legacy finance access.
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Broader Access to Popular Altcoins and New Tokens
This recent expansion aligns with Robinhood’s strategy to increase accessibility to crypto investments. Earlier in 2024, Robinhood introduced Bitcoin ETF trading to its 23 million U.S. users, furthering its goal to diversify the investment options on its platform. SOL, ADA, and XRP tokens will be among the instantly recognizable tokens integrated into the app along with PEPE; Robinhood seeks to satisfy the demand and adapt to the changing environment.
After the listing announcements, Memecoin Pepe (PEPE), also listed on Coinbase recently, rose in value by 50%. This has stimulated interest among crypto investors as PEPE launched on various platforms, fitting Robinhood’s overall approach of engaging many people.
Like many other exchanges, Robinhood suspended XRP trading in late 2020 after the SEC filed a lawsuit against Ripple. In September 2024, the platform quietly reintroduced XRP for its European Union users without an official announcement. Robinhood also delisted Solana (SOL), Cardano (ADA), and Polygon (MATIC) in June 2023 after regulatory actions classified these tokens as unregistered securities. With the re-listing of these assets, Robinhood is broadening its offerings amidst regulatory challenges.
Conclusion
Robinhood’s re-listing of SOL, ADA, and XRP, alongside the addition of PEPE, highlights its commitment to expanding digital asset accessibility. This expansion provides users with more investment options, reinforcing Robinhood’s position in the competitive crypto market.
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