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Robinhood Enables XLM, XTZ and AAVE Transfers

Thu, 10/27/2022 - 09:53
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Tomiwabold Olajide
Trading platform has greatly increased its cryptocurrency offering this year
Robinhood Enables XLM, XTZ and AAVE Transfers
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Stock brokerage app Robinhood has enabled transfers for Aave (AAVE), Stellar (XLM) and Tezos (XTZ), according to a recent tweet. Users will now be able to send and receive AAVE, XTZ and XLM on Robinhood.

AAVE is the native asset of Aave, a decentralized finance protocol that allows people to lend and borrow crypto, while Stellar Lumens (XLM) is the native cryptocurrency of Stellar, a blockchain-based payment network.

XTZ is the native token of Tezos, an open-source blockchain that can execute peer-to-peer transactions and serve as a platform for deploying smart contracts.

Stellar (XLM) and Avalanche (AVAX) Now Supported by Robinhood

In August, Robinhood listed Stellar (XLM) alongside Avalanche (AVAX), enabling transfers for Avalanche last September.

The trading platform has greatly increased its cryptocurrency offering this year despite its seemingly conservative listing approach for digital assets.

AAVE (AAVE) Now Listed by Stock Brokerage Giant Robinhood

Earlier this week, Robinhood listed Tezos (XTZ) and the DeFi token, AAVE. They are the most recent cryptocurrency assets to be introduced to Robinhood, which has 18.7 million active monthly users. Last month, Robinhood also listed its first stablecoin, USDC.

Shiba Inu, Polygon, Solana and Chainlink are just a few of the new coins the company has introduced this year, bringing the platform's overall portfolio of cryptocurrencies to 19.

As reported by U.Today, a beta version of Robinhood's cryptocurrency wallet was released to about 10,000 individuals last month, and it was first tested with Polygon (MATIC).

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.