Shiba Gets Added To This Regulated Crypto Platform; Will Robinhood Be Next?

Amid the crypto market mayhem, meme currency Shiba Inu SHIB/USD has a reason to cheer.

What Happened: Uphold Inc., a digital wallet and cryptocurrency trading platform, have listed Shiba Inu, the exchange made the announcement through a tweet on Friday. Shiba Inu isn't available in all the regions where Uphold operates, and the exchange therefore asking its clients to check on its app for more information.

Related Link: How to Buy Shiba Inu (SHIB)

Why It's Important: Uphold currently supports 51 cryptos and utility tokens, 27 national currencies, six stablecoins and four precious metals. It allows both consumers and businesses to transact between digital and traditional currencies.

The exchange serves customers in over 184 countries and has offices in London and New York. "Categorizing SHIB as a memecoin glosses over the traction it has gained as a payment coin. Unquestionably, though, the hype has helped SHIB at every twist and turn during its stunning rise," the regulated exchange said on its website.

There is no denying that SHIB is increasingly gaining traction with respect to mainstream adoption. The extremely loyal SHIB Army, which stands solidly behind the meme coin, has been clamoring for its addition to Robinhood Markets, Inc. HOOD. Which currently offers a handful of cryptos, including Dogecoin DOGE/USD. 

Recent rumors suggest that Shiba Inu could be listed on the retail trading platform as early as February.

When asked "when SHIB" in a Bloomberg interview, Robinhood's chief product officer Aparna Chennapragada commended the SHIB community for their love of the trading platform. Although she refused to talk about token listings, she did say that Robinhood is systematically putting its building blocks in place to be able to enable great crypto products.

"You will see us continue to play in the space, but we are not going to play the crypto bingo," the Robinhood executive said. A petition to list Shiba Inu on Robinhood has now garnered over half a million signatures.

At last check, SHIB was plunging 22.64% to $0.000019.

Related Link: Investors Feeling The Chill Of Long Crypto Winter Ahead, Akin To '1929 Stock Market Crash': Analyst

Photo: Courtesy of Diverse Stock Photos on Flickr