Robinhood Digital Exchange Begins Supporting DOGE
Robinhood, a trading firm operating and based in the United States, has recently added DOGE to their digital platform as the latest addition among other currencies added in the previous week, including major cryptocurrencies.
DOGE was initially designed and launched a humorous currency praying tribute to Kabosu, a Shiba Inu dog and global internet meme. In 2013, Dogecoin was released and as of today, it holds a total market cap of more than $300 million. This week, DOGE has joined Robinhood’s platform, the latest coin to be added after LTC and BCH were supported on the exchange last week.
The digital coin can be endlessly mined with no cap and currently circulates more than one hundred billion DOGE around. The coin succeeded in raising $1B earlier this year in terms of capitalization during its value craze which placed it above Japan’s yen. In 2018, Robinhood introduced feeless transactions involving the trading of BTC and ETH for the first users on the digital platform. The platform supports 5 cryptocurrencies and facilitates their trade as well as running its operations from 17 different states within the US.
Reports in June said the company was currently seeking to acquire a license for banking through the OCC and was undergoing several negotiations with the official authority. As sources stated, the company is looking to enter the financial industry and begin providing services such as savings in an effort to dominate any competing within the traditional banking industry through enhanced services, interest and a financial system providing every possible related service. As a result of previous rumors and talks, Robinhood was thought to be creating a digital wallet.