Robinhood has officially added support for Solana to its wallet, expanding the platform’s cryptocurrency offerings.
Johan Kerbrat, CEO of Robinhood Crypto, made the announcement. Mergerwhich will enable users to self-custody Solana (SOL) and transact across the Solana blockchain.
The move is in line with Robinhood’s broader strategy to bolster its Web3 portfolio by integrating more blockchains and digital assets, following previous integrations of networks like Ethereum (ETH), Polygon (MATIC), and Bitcoin (BTC).
Robin Hood and Cryptocurrencies
Earlier this year, Robinhood showed increased interest in the cryptocurrency space. Notably, it acquired the cryptocurrency exchange Bitstamp.
Robinhood has begun using its recently acquired Bitstamp license to offer cryptocurrency futures in the US and Europe. The company plans to offer Bitcoin and Ethereum futures trading in the US, though an official launch date has yet to be set as discussions are ongoing.
The move comes after Robinhood acquired Pluto Capital in July, which improved its crypto offerings and attracted retail crypto customers.
The Solana addition will allow Robinhood Wallet users to more efficiently manage their SOL holdings, including the ability to securely send, receive, and store SOL.