Robinhood Adds Support for Dogecoin on Its Crypto Trading Platform

U.S. – based trading company Robinhood has professed support for Dogecoin (DOGE) on its Robinhood Crypto platform, according to a blog post published July 16.

DOGE is a peer to peer digital currency began as a satire on a dog meme based on a genuine Japanese Shiba Inu named Kabosu. DOGE was presented in December 2013, and right now has a market capitalization of $331 million as per Coinmarketcap. With the today’s declaration, DOGE has joined Litecoin (LTC) and Bitcoin Cash (BCH), which were added to the platform a week ago.

Dogecoin has no restriction on the number of coins that can be mined and currently has more than 115 billion coins available for use. DOGE came to a $1 billion market capitalization in January of this year, when its price rose above the Japanese yen.

Robinhood released a zero-fee Bitcoin (BTC) and Ethereum (ETH) trading for the main group of clients of its Robinhood Crypto platform in February of this year. Robinhood Crypto is now available in 17 countries around the world.

A month ago, Bloomberg reported that Robinhood is in “constructive” chats with the U.S. Office of the Comptroller of the Currency (OCC) to get a banking license. As indicated by sources familiar with the issue, Robinhood needs to offer financial services like savings accounts so it can win over the competition of traditional banks with better interest costs and a one-stop financial services portal.

The company became the subject of speculation last month when it advertised vacancies for cryptocurrency engineering positions that led to the speculation that it was trying to create its own token.