Robinhood’s chief monetary officer has revealed the favored buying and selling platform’s crypto precedence and the potential of itemizing extra cryptocurrencies. “We’re a extremely regulated firm in a extremely regulated trade, and we predict it’s vital that we get a bit extra readability from regulators,” he emphasised.
Robinhood Waiting for Regulatory Clarity
The chief monetary officer (CFO) of Robinhood, Jason Warnick, talked about cryptocurrency throughout The Wall Street Journal’s digital CFO Network Summit final week.
Commenting on retail buyers’ excessive demand for Robinhood to listing extra cryptocurrencies, notably the meme crypto shiba inu (SHIB), Warnick emphasised, “It’s not misplaced on us that our clients and others want to see us add extra cash.” However, the Robinhood government confused:
We’re a extremely regulated firm in a extremely regulated trade, and we predict it’s vital that we get a bit extra readability from regulators.
Compliance is a prime precedence at Robinhood. In December final yr, the corporate partnered with blockchain knowledge platform Chainalysis to fulfill compliance necessities.
Supporters of the shiba inu cryptocurrency have been petitioning on Change.org for Robinhood to listing SHIB. At the time of writing, 555,811 individuals have signed the petition.
Christine Brown, Robinhood Crypto’s chief working officer and VP of Product Operations, said in November that the platform is in no hurry to listing any further cryptocurrencies. Her assertion was in response to a query about when SHIB will probably be listed.
Robinhood Crypto at present helps the shopping for, promoting, and real-time market knowledge for bitcoin (BTC), bitcoin money (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum traditional (ETC), and litecoin (LTC).
Warnick additionally clarified on the summit that Robinhood won’t be shopping for cryptocurrency for its company treasury like some firms have carried out, comparable to Microstrategy and Tesla. He defined:
There aren’t compelling causes strategically for our enterprise to place any significant quantity of our company money into cryptocurrencies.
In December final yr, Robinhood launched a cryptocurrency gift program. The firm additionally introduced the upcoming beta launch of its cryptocurrency wallets, which has a waitlist of 1.6 million individuals.
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