Seeking Alpha
2022-04-12 21:21:59

Robinhood adds Solana, Shiba Inu, Polygon, Compound to its cryptocurrency offerings

As customers want a broader selection of cryptocurrencies to trade with, Robinhood Markets (NASDAQ:HOOD) on Tuesday has listed Solana (SOL-USD), Shiba Inu (SHIB-USD), Polygon (MATIC-USD) and Compound (COMP-USD) to its digital asset offerings, according to the company's blog post. Meanwhile, all four cryptos are climbing intraday, with shiba inu (SHIB-USD +19.1%) in the lead followed by polygon (MATIC-USD +6.3%), compound (COMP-USD +6.1%) and solana (SOL-USD +4.1%). The newly listed digital coins are available to buy and sell on the Robinhood app, though "deposit and withdrawal won’t be available immediately for these assets, but that capability is coming soon," the fintech said. Recall that the company's co-founder and CEO, Vlad Tenev, hinted plans towards the end of January to add more digital tokens to its crypto trading capabilities. Note that HOOD's crypto transaction-based revenue was heavily reliant on meme coin Dogecoin (DOGE-USD), of which has shown some weakness in recent quarters. Earlier in April, Robinhood

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