Robinhood, the popular American stock and cryptocurrency trading platform, has finally launched its long-awaited Android version of its self-custody crypto wallet. This expansion significantly increases accessibility for crypto enthusiasts who utilize Android devices.
The announcement, made on March 20, 2024, by Robinhood crypto general manager Johann Kerbrat via his official X account, marks a significant milestone for the company’s crypto offerings.
Read Also: Shiba Inu Surges Over 20% Following Robinhood Listing; As Two ETH Whales Grab 393 Billion SHIB
The Android wallet mirrors the functionality of the iOS version launched in 2023, which has seen widespread adoption with hundreds of thousands of downloads across over 140 countries. Importantly, this new Android wallet offers full support for the popular meme coin, Shiba Inu (SHIB).
Robinhood highlights the importance of this launch, considering that Android devices account for roughly 70% of the global mobile operating system market. By offering a user-friendly and secure self-custody option for Android users, Robinhood is furthering its mission of making cryptocurrency participation more accessible to a broader audience.
The Robinhood Android wallet empowers users to take control of their crypto assets by granting them access to their private keys. This self-custody approach enables users to store, send, and receive various cryptocurrencies directly on the blockchain. Supported blockchains for these activities include Bitcoin (BTC), Ethereum (ETH), Arbitrum, Dogecoin (DOGE), Optimism, Polygon (MATIC), and Base.
For users seeking to swap cryptocurrencies within the Ethereum, Arbitrum, and Polygon networks, the Robinhood wallet integrates with the 0x API and LI.FI, providing a seamless swapping experience. Additionally, users have the flexibility to fund their wallets directly from their existing Robinhood exchange balance or via another external wallet or exchange.
Read Also: Shiba Inu (SHIB) and Solana (SOL) Listed On Robinhood
It’s worth noting that Shiba Inu is a prominent asset within Robinhood’s centralized exchange platform. According to data from Arkham Intelligence, Robinhood users hold a staggering 39.60 trillion SHIB tokens, representing a collective value of over $1.06 billion at the time of writing.
This places Shiba Inu as the third most-held cryptocurrency on Robinhood, following only Bitcoin and Ethereum. This significant holding further underscores Robinhood’s commitment to providing a platform for users interested in Shiba Inu and other popular cryptocurrencies.
The launch of the Robinhood Android wallet with Shiba Inu support signifies a major step towards expanding access to self-custody solutions and furthering cryptocurrency adoption for a wider audience.
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