- Robinhood relists Solana (SOL), Cardano (ADA), and XRP in response to shifting U.S. regulatory dynamics and rising person demand for digital belongings.
- Robinhood is increasing past the U.S. crypto market with stablecoin transfers in Europe and exploring new Web3 providers, positioning itself as a key participant within the international crypto ecosystem.
After the relisting of XRP on Robinhood, which sparked new optimism in crypto, as highlighted in a latest CNF update, Robinhood had beforehand delisted Solana, Cardano, and XRP in 2023 to align with U.S. regulatory strikes.
Robinhood has now brought these belongings again, signaling a strategic shift in response to the evolving crypto panorama. The platform’s newest itemizing choice displays each person demand and potential regulatory shifts following Donald Trump’s election victory, which may result in pro-crypto leaders on the U.S. Treasury and SEC.
Robinhood Crypto’s VP, Johann Kerbrat, in a latest press assertion, said:
We’ve persistently heard from our clients that they need entry to extra digital belongings, and we’re excited to proceed increasing our crypto providing.
Elevated Consumer Demand Drives Crypto Growth
This surge underscores the rising position of digital belongings in Robinhood’s income, prompting it to revisit its itemizing insurance policies amid shifting regulatory sentiments.
Additionally, in accordance with Johann Kerbrat, VP of Robinhood Crypto, person curiosity in expanded crypto choices has been vital. The corporate has witnessed a considerable rise in crypto buying and selling volumes, with Q3 2024 reporting a 114% enhance, reaching $14.4 billion.
Broader Growth into World and Decentralized Finance
Robinhood has additionally ventured into new markets and providers inside Web3, launching stablecoin transfers in Europe and exploring political prediction markets. These strikes illustrate Robinhood’s broader ambitions past the U.S. crypto market, with collaborations involving Paxos’ USDG stablecoin and key gamers like Kraken and Bullish.
In the meantime, as the authorized challenges persist for Robinhood, it agreed to a $3.9 million settlement with clients earlier this yr, whereas the trade continues to observe Ripple’s ongoing authorized battle with the SEC over XRP’s classification.
Inevitably, Solana (SOL) is at present buying and selling at $216.85, having surged by 4.62% up to now day and 15.52% up to now week. See XRP worth chart under.
