Crypto News: Robinhood on Listing More Cryptocurrencies: 'It's Important That We Get a Bit More Clarity From Regulators'

Robinhood’s chief financial officer has revealed the popular trading platform’s crypto priority and the potential of listing more cryptocurrencies.

“We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators,” he emphasized.

Robinhood CEO Vlad Tenev said on the company's third-quarter conference call: "We hear this loud and clear. Our customers want new coins, the ability to deposit and withdraw, as well as ways to earn interest on their crypto." Does that mean more cryptocurrencies will be supported on the trading platform in the future? Probably -- but just how soon is unknown.

Tenev added that the company will "carefully evaluate whether we can add new coins in a way that's safe for customers and in line with regulatory requirements." This cautiousness could mean that Robinhood's list of supported cryptocurrencies will remain at seven for a while.

Compliance is a top priority at Robinhood. In December last year, the company partnered with blockchain data platform Chainalysis to meet compliance requirements.

Supporters of the shiba inu cryptocurrency have been petitioning on for Robinhood to list SHIB. At the time of writing, 555,811 people have signed the petition.

Christine Brown, Robinhood Crypto’s chief operating officer and VP of Product Operations, said in November that the platform is in no hurry to list any additional cryptocurrencies. Her statement was in response to a question about when SHIB will be listed.

Robinhood Crypto currently supports the buying, selling, and real-time market data for bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum classic (ETC), and litecoin (LTC).

Warnick also clarified at the summit that Robinhood will not be buying cryptocurrency for its corporate treasury like some companies have done, such as Microstrategy and Tesla. He explained:

“There aren’t compelling reasons strategically for our business to put any meaningful amount of our corporate cash into cryptocurrencies.”

In December last year, Robinhood launched a cryptocurrency gift program. The company also announced the upcoming beta launch of its cryptocurrency wallets, which has a waitlist of 1.6 million people.

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