Shiba Inu, Solana Tokens Among 4 Added to Robinhood

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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 meme coin 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 post Tuesday. He added that the assets are available to buy and sell now on the Robinhood app, but deposit and withdrawal 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 long-firewalled 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.