Robinhood Readies Itself to Support Cardano Transfers

Since its launch, Robinhood has been continuously making efforts to provide a large number of tradable assets to its clients. Now, the leading trading platform has announced that soon it will support Cardano (ADA) transfers as well.

Robinhood Ready to Assist Transfers of Cardano

On the 1st of this month, Robinhood announced to list Cardano tokens on the platform. With this move, its registered members will increase and its overall trading volume will also see a boost of millions of dollars. Earlier, it had announced to add Solana, Polygon, and Compound on its website as well. Since its beginning, it had been seriously criticized for a lack of supported assets but now the tide is turning. In July 2022, it added Bitcoin after testing for more than a year.

Despite a limited number of available assets, Robinhood still made its successful mark in the market because it doesn’t charge any commission for the transfer of crypto assets to other exchanges. Remember that Robinhood has waived the commission fee but the users still have to pay the transaction fee for external transfers. It permits users to receive any coin that is listed on the platform.

Cardano Vasil Hard Fork Upgrade

For Cardano enthusiasts, Robinhood’s announcement is not the only thing to cheer. The Cardano network has finally confirmed the date for the Vasil upgrade. This respected upgrade will solve the scalability problem on the Cardano network. Earlier, it unveiled its smart contracts with the Alonzo hard fork upgrade.

Talking about the upcoming upgrade, Charles Hoskinson (founder), has declared this upgrade as the most important upgrade for Cardano as it will boost its capacity. It will not only boost it but also bring it into direct competition with the Ethereum blockchain. Furthermore, it will prove significant for developers too because it is easier for them to develop dApps on Cardano Network.