Wednesday, February 8, 2023
HomeExchange NewsRobinhood Adds Aave and Tezos to Its Trading Platform

Robinhood Adds Aave and Tezos to Its Trading Platform

  • On Monday, Robinhood announced on Twitter the new addition.
  • With today’s update, the platform now supports 19 different crypto assets.

The stock and crypto trading platform, Robinhood, now supports Tezos (XTZ) and Aave (AAVE). Letting users buy, sell, and trade the tokens. On Monday, Robinhood announced on Twitter that it will begin accepting a variety of new cryptocurrencies.

When compared to Aave, a decentralized lending system, Tezos is a proof-of-stake blockchain network. The market value of each of their native tokens is above $1 billion. The price of AAVE has increased by around 5% today, according to CoinGecko, while the price of XTZ has changed very little.

Rejoice For Aave and Tezos Fans

There are now even more reasons for Robinhood’s 18.7 million active customers to sign up for the platform since these crypto assets have just been introduced. This year, the corporation has introduced many new cryptocurrencies. With today’s update, the platform now supports 19 different crypto assets.

Finally, last month, Robinhood added support for the first stablecoin of its kind, USD Coin (USDC). Robinhood is developing its own crypto wallet, with a test version made available to about 10,000 individuals last month, in an effort to attract cryptocurrency traders. The Polygon framework is collaborating on the development of this product.

It has also been reported that in preparation for the launch of Robinhood Wallet in the coming months, the brokerage app is seeking to employ a sanction investigator to grow its compliance team. New York’s Department of Financial Services has already penalized the crypto division $30 million for suspected violations of cybersecurity and anti-money laundering regulations.

It comes as Robinhood’s competitors pursue the cryptocurrency sector; only last week, European digital bank N26 launched its own cryptocurrency trading service. Revolut, another neobank, has been given permission to provide cryptocurrency services in the United Kingdom.

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