Popular US-based cryptocurrency trading platform, Robinhood, has expanded its crypto token offerings to its customers in the United States. As stated in a November 13th report by the platform, “Today, Robinhood Crypto announced the addition of Solana (SOL), Pepe (PEPE), Cardano (ADA) & XRP (XRP) to its U.S. platform.”
For context, this brings the total number of crypto tokens listed on Robinhood US to nineteen. In addition, the recent token expansion highlights Robinhood’s dedication to providing access to more cryptocurrencies and a platform to transact them seamlessly.
Significantly, Robinhood Crypto’s general manager (GM), Johann Kerbrat shared insights about this recent development which was recorded in the report. “We’ve consistently heard from our customers that they want access to more digital assets, and we’re excited to continue expanding our crypto offering,” said Kerbrat.
Moreover, the Robinhood Crypto GM emphasized that the platform’s access, products and services were indispensable to the unbanked and underbanked population. “With lower barriers to entry, we believe crypto presents an opportunity for those who have been historically left behind by the traditional financial system,” said Johann Kerbrat.
Backed by Trump’s Win and Ongoing Bull
Robinhood’s latest move closely follows the victory of Donald Trump (the pro-crypto candidate) in the United States 2024 presidential elections. For context, Trump’s victory is favourable to the crypto industry in general with Bitcoin and other cryptocurrencies going bullish.
Interestingly, Robinhood previously offered Solana, Cardano and other tokens to crypto users till they were delisted. This followed the SEC’s legal confrontations with other crypto exchanges like Coinbase and Binance over unregistered securities.
Notedly, the regulatory agency viewed the tokens as securities and was cracking down on exchanges that offered them unregistered under the previous administration. Consequently, Robinhood Crypto stopped offering the tokens to crypto users in the US.
With Trump’s victory and incoming administration, new token-favorable policies would be stipulated, hence the new token offerings. In conclusion, Trump’s electoral win might be the best thing to happen in the crypto space in 2024.
