Robinhood Will Add This Memecoin Next.
The new cryptocurrency wallet from Robinhood was recently made available to a million customers, however Dogecoin wasn't initially supported (DOGE).
After DOGE community concerns, the U.S. retail trading platform said it is "hard at work" on adding memecoin compatibility to its recently released cryptocurrency wallet.
A million consumers have recently received Robinhood's new cryptocurrency wallet, but Dogecoin wasn't initially supported (DOGE).
With the company today announcing the release of the Robinhood Wallet, a smartphone software that allows users to trade & transfer digital assets like crypto and NFTs, Robinhood is finally getting into the crypto wallet business. Robinhood claims that more than 1 million individuals who joined their waitlist are presently receiving it gradually. To the disappointment of many, the wallet did not initially support Dogecoin (DOGE).
Coming Soon: Dogecoin (DOGE)
The U.S.-based retail trading platform disclosed that it is "hard at work" on adding support for the well-known memecoin to its recently released cryptocurrency wallet after the DOGE community expressed concerns on the lack of the asset. The meme community responded favourably to the news, especially given that Robinhood would soon be accepting listings for additional meme cryptocurrencies.
GM of Robinhood Teases DOGE Listing
The official response is in line with what Johann Kerbrat, General Manager of Cryptocurrency at Robinhood, has already said. In response to inquiries about Dogecoin support, Kerbrat admitted that they do have plans to add more chains and assets, albeit they did not specify which one.
However, the trading app from Robinhood already supports the dogecoin cryptocurrency. And the business said in August 2021 that Dogecoin (DOGE) accounted for over 62% of the business's income in the first quarter of 2021. This amount exceeded the value of Bitcoin and Ethereum. Additionally, Sherwood, a new media outlet that will act as a source for news and information on financial markets, economics, business, and technology, was just created by Robinhood.
The wallet software offers further functionality for exchanging bitcoins without incurring network fees, among other features. By utilising the power of Polygon (MATIC), an Ethereum sidechain, this is made possible. The wallet can currently support around 50 different coins. These include, among others, Shiba Inus, Ethereum (ETH), Solana (SOL), and USDC.
