thecryptobasic.com
Robinhood has finally unveiled the much-awaited Android version of its self-custody crypto wallet solution with support for Shiba Inu.
The Prominent American exchange Robinhood announced this launch on Monday via its official X handle and a press statement on its website.
According to the report, the new Robinhood Wallet is now live for Android users globally. Consequently, crypto market participants with Andriod devices can begin transferring assets like Shiba Inu to the wallet.
#Android users 👋 Robinhood Wallet is here 🔥 https://t.co/4ZlUs0GOy3 https://t.co/tnxVfd436M
— Robinhood (@RobinhoodApp) March 20, 2024
Robinhood Wallet
This Android version comes precisely a year after the exchange introduced its crypto self-custody solution. The first edition was for only iOS users globally. Notably, the initial iOS version similarly supported Shiba Inu and has garnered hundreds of thousands of downloads across over 140 countries.
Robinhood emphasized that Android users constitute 70% of the global mobile OS market, opening up the new Robinhood Wallet to millions of potential crypto users worldwide. In line with this, the exchange views the new launch on Android as another stride towards its mission of democratizing finance for everyone.
Following the unveiling, Android users can manage their crypto’s private keys, granting them exclusive access to their digital assets. They can also store, receive, and send cryptocurrencies across various blockchain networks. The supported blockchains include Bitcoin, Ethereum, Arbitrum, Dogecoin, Optimism, Polygon, and Base.
Additionally, the swap function is accessible on Ethereum, Arbitrum, and Polygon networks through the 0x API and LI.FI. Furthermore, Android users can fund their wallets directly from their Robinhood balance or another wallet or exchange.
Robinhood and Shiba Inu
Notably, Shiba Inu stands as one of the most prominent digital assets in Robinhood’s portfolio of assets held for users in its centralized exchange platform.
According to data from tracking Arkham Intelligence, users store over 39.64 trillion SHIB tokens on the Robinhood exchange, worth $1.08 billion. This figure puts Shiba Inu behind only Bitcoin and Ethereum.
Moreover, the figure elevates Robinhood to the position of the third largest holder of Shiba Inu, next to Binance and Crypto.com. The Crypto Basic recently called attention to this development.