Residents of Hawaii, Puerto Rico, and the U.S. Virgin Islands can now engage in Shiba Inu (SHIB) trading using Robinhood’s platform. Robinhood announced this development in a recent post, highlighting its ongoing efforts to expand services across the United States.
Robinhood’s initiative aims to facilitate SHIB adoption through its expansion plans. With its trading service now accessible in Hawaii, Puerto Rico, and the U.S. Virgin Islands, crypto enthusiasts in these territories can participate in buying and selling digital assets available on the platform, including Shiba Inu.
This expansion is set to increase Shiba Inu’s visibility and potentially drive its mainstream adoption in these regions. Robinhood has previously extended SHIB trading across the U.S., including a recent rollout in Nevada last October, where users gained access to trade 15 different crypto assets, SHIB included. Moreover, in April, Robinhood introduced SHIB, Compound (COMP), and Avalanche (AVAX) to customers in New York.
Continuing its momentum, Robinhood has now expanded its crypto trading service to additional U.S. territories such as the U.S. Virgin Islands, Hawaii, and Puerto Rico. While specific details about this recent milestone were not disclosed, expanding into these regions necessitates Robinhood obtaining the required licenses.
Amid Robinhood’s continued support, SHIB has seen a modest increase of 1.07% in the past 24 hours, trading at $0.00001731 at the time of writing. This gain follows the broader positive movement in Bitcoin’s price, which rose by 0.76% over the same period.
Robinhood initially listed SHIB in April 2022 under pressure from the Shiba Inu community, subsequently becoming a prominent platform for substantial SHIB transactions. In a notable move, a crypto whale transferred 1.75 trillion SHIB from Robinhood to an untagged blockchain wallet in May.
Robinhood itself holds significant amounts of SHIB, with one wallet containing 33.95 trillion SHIB, valued at approximately $588 million, ranking it as the fourth largest holder of the token. Additionally, two other wallets associated with Robinhood hold 5.68 trillion and 4.8 trillion SHIB respectively, placing them among the top 20 largest SHIB holders.
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