The exchange has no justification not to list Shiba Inu after listing Biden Crypto order and Robinhood wallets in the testing phase.
Due to a lack of regulatory certainty in the digital currency market, retail trading platform Robinhood said this year that it will not be adding new cryptocurrencies, including Shiba Inu (SHIB), anytime soon.
The regrettable news was reported by the company’s Chief Financial Officer, Jason Warnick, during a Wall Street Journal (WSJ) virtual CFO summit in January.
Two months after the launch of Robinhood, the cryptocurrency industry scored a huge victory when President Joe Biden signed the long-awaited crypto executive order, which requires all relevant agencies to collaborate and make suitable regulatory recommendations for the business.
With this directive, it is clear that the United States is preparing for more visible control of its bitcoin industry. It regards the asset class as the future currency.
Now that the United States is determined to take a more open approach to the nascent industry, it appears that the time has come for Robinhood to list Shiba Inu and other digital currencies.
Shiba Inu Possibilities
As momentum for the popular dog-themed cryptocurrency continues to gather pace, Robinhood customers have made many requests to the financial platform to feature the coin for trading.
Shiba Inu not only has a strong community behind it; the cryptocurrency has become one of the most popular in the last year, with adoption exceeding expectations.
It is important to note that listing Shiba Inu on Robinhood will help both the trading platform and the SHIBArmy in a variety of ways.
Both parties are successful.
If Shiba Inu becomes live on Robinhood, the platform will witness an influx of new users who have been waiting for an opportunity to get a piece of the SHIB action on the popular investment app, a move that might result in significant earnings for Robinhood through trading fees.
On the other side, mass adoption triggered by Shiba Inu’s listing on Robinhood may drive the token’s value excessively high, which is what every SHIB holder expects.
While it is unclear when Robinhood will list Shiba Inu, it is believed that an official announcement will be made soon, as the United States has taken the required procedures to offer regulatory certainty.
Following the launch of the Robinhood Wallet, SHIB may be included.
Meanwhile, it has been speculated that the delay in the rollout of the online trading platform’s bitcoin wallet is one of the reasons Robinhood has yet to include Shiba Inu.
In January, Robinhood released a public beta of its crypto wallet for 1,000 clients to test. The company also stated that the number of clients who would test the wallet will be increased to 10,000 this month.
Hopefully, when the wallet passes all essential testing and makes its market debut, Robinhood will opt to add Shiba Inu to its list of offerings before the publication of regulatory guidelines for the crypto sector.