Globally popular online trading platform, Robinhood, is currently exploring the possibility of introducing more cryptocurrencies at its trading platform as has been revealed by the company’s Chief Financial Officer. But before moving on, the online trading platform is seeking the go-ahead from the regulator to avoid any future difficulties.
Jason Warnick, who is currently the Chief Financial Officer of a globally popular online trading platform called “Robinhood” attended a virtual summit. The virtual summit was organized by the famous Wall Street Journal which was convened in the last week.
During the virtual discussion, Warnic revealed that it is the wish of his company to add more cryptocurrencies to the trading platform. He specifically mentioned the name of the Shiba Inu coin. He said that he is aware that his company’s users and others are keen on seeing Robinhood adding more cryptocurrencies, especially Shiba Inu. However, before fulfilling the demand of Robinhood’s supporters it is a must that regulatory requirements are duly taken care of.
Warnick stressed that his company has been working in a highly regulated business environment. So far there hasn’t been any single event where the regulator and Robinhood have come to any disagreement. In this view of the matter, Robinhood wants to obtain clarity from the regulator beforehand so as to avoid any future difficulties. He further commented that compliance with the mandatory requirements is one of the top priorities of Robinhood since day one.
He thereafter made mention of the online writ filed by the public insisting upon Robinhood for adding Shiba Inu coin in crypto trading. He told that approximately more than half a million people had endorsed the online petition for Shiba Inu. Keeping in view this huge public interest, Robinhood has decided to add Shiba Inu but clarification is needed from the regulator.
It is now clear that Robinhood is willing and ready to add more cryptocurrencies to its crypto trading feature. This was even initially spoken of by Robinhood’s VP and COF, Christine Brown, in November 2021 as well. At the time Brown suggested that they needed more cryptocurrencies onto the trading list yet it was not the time.
Meanwhile, Warnick further clarified that crypto trading at Robinhood will always remain exclusively for the public only. He said that his company has never bought nor intends to buy any cryptocurrencies in the future for itself. He stated that Robinhood does not wish to utilize its capital or profits for investing in cryptocurrencies. If they were to be utilized, then the same will be used for expanding and bringing more features to the platform.
For the time being Robinhood is offering crypto trade services in various popular cryptocurrencies. These currencies include Ethereum, Bitcoin Cash, Doge, Bitcoin, Litecoin Bitcoin SV, and Ethereum Classic. A trader can buy, sell or even exchange these cryptocurrencies while using the crypto platform of Robinhood.