Robinhood has officially added support for Solana to its Wallet, expanding the platform’s crypto offerings.
Johann Kerbrat, the General Manager of Robinhood Crypto, announced this integration, which will enable users to self-custody Solana (SOL) and conduct transactions over the Solana blockchain.
Robinhood 🤝 SolanaJust in: Robinhood Wallet has added support for Solana! https://t.co/Qxsu8mrVTE pic.twitter.com/7VumKVvCgT
— Solana (@solana) August 27, 2024
This move aligns with Robinhood’s broader strategy to enhance its Web3 wallet by incorporating more blockchains and digital assets, following previous integrations of networks like Ethereum (ETH), Polygon (MATIC), and Bitcoin (BTC).
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Robinhood and crypto
Earlier this year, Robinhood demonstrated a growing interest in the cryptocurrency space. Notably, it it acquired crypto exchange Bitstamp.
Robinhood started using its newly acquired Bitstamp licensing to offer crypto futures in the U.S. and Europe. The company plans to introduce Bitcoin and Ethereum futures trading in the U.S., though an official launch date has yet to be set as discussions are ongoing.
This move followed Robinhood’s acquisition of Pluto Capital in July, which further improved its crypto offerings and attracted retail crypto clients.
The addition of Solana will allow Robinhood Wallet users to manage their SOL holdings more effectively, including the ability to send, receive, and store SOL securely.
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