Robinhood, a popular trading app for crypto, has added new cryptocurrencies, Aave, AAVE, and Tezos, XTZ, to its platform. After this new addition of cryptocurrencies, users can buy, sell, or trade these tokens on Robinhood. On the 24th of October, Robinhood announced this new addition in a tweet, where they wrote that AAVE and XTZ are now on the Robinhood crypto listing.
In the tweet, Robinhood also provided a web page link in which anyone can see the newly listed cryptocurrencies on the Robinhood trading platform. Their newly added Tezos is a proof-of-stake blockchain network, and Aave is a decentralized lending protocol. These two tokens’ native market capitalization is more than $1 billion, which could help Robinhood in its platform’s growth.
As of 24th October, according to data from CoinGecko, AAVE’s price was up around 5%, but XTZ remained unmoved. However, the monthly active users on the platform Robinhood is around 18.7 million, but after these latest crypto assets addition, it will increase.
This year, Robinhood has not only added Aave and Tezos, but they also added new coins, such as Polygon, Solana, and Avalanche. After this new two crypto coins addition to the platform, Robinhood now offers 19 crypto assets to its users.
In the previous month, Robinhood listed a stablecoin in the form of USD Coin, which was its first stablecoin. Last month, it also launched a beta version of its new upcoming crypto wallet to around 10,000 people. Its upcoming crypto wallet is being developed in partnership with the Polygon framework. These new announcements from Robinhood have increased more people’s interest in its trading platform.
One of the rivals of Robinhood, European digital bank N26 also launched its crypto trading service last week. Another rival, neobank, Revolut, has won approval from regulators, which would allow it to offer crypto services in the UK.