On Tuesday, financial services company Robinhood announced that it has added Solana, Polygon and two other crypto assets to Robinhood Crypto. The supplement will allow users to trade these and other tokens.
Around the same time, Do Kwon, CEO of Terraform Labs, shared that the Terra Bridge brought support for Avalanche, Solana, Fantom, and two other tokens.
Trading platform Robinhood lists Solana and three other tokens
Robinhood, which offers investors access to traditional financial and cryptocurrency markets, yesterday added Solana (SOL) to the cryptocurrency coins listed on its platform.
In addition to SOL, the online trading and brokerage service also added Shiba Inu (SHIB), Polygon (MATIC) and Compound (COMP). In a published blog post, Robinhood cited an ever-growing user demand for a wider range of cryptocurrency options as the rationale for adding the tokens.
The inclusion of Solana in the basket of assets available for trading on Robinhood Crypto is a qualifying factor for the asset. Steve Quirk, the trading platform’s Chief Brokerage Officer, announced that Robinhood uses a rigorous framework to rate these assets prior to listing. Among other things, security, technology, on-chain metrics and legal/financial variables are evaluated before a token is listed on Robinhood.
The listing also means that in addition to making it easier for users to deal with cryptocurrencies, it also gives users an educational empowerment. This addition of new cryptocurrency options comes after Robinhood launched its crypto wallet for the two million users on the waiting list last week. The new functionality that the wallet brings to Robinhood is that users can now move their tokens to external wallets.
To learn more about these tokens, visit our Solana and Polygon guides.
Terra Bridge now supports Solana
The Terra Network has updated the list of tokens supported by Terra Bridge – the network’s tool that facilitates the cross-chain movement of assets between Terra and other blockchains.
By introducing support for Solana, Avalanche, Osmosis, Moonbeam Network and Fantom, Terra Bridge now allows users to move their holdings across Terra and 11 other blockchains. Terra CEO Do Kwon noted that this is the “easiest way to move funds into crypto.”
Users looking to move their SOL via Terra Bridge have a choice of modules – Wormhole, Shuttle and Axelar.
To learn more about these tokens, visit our Avalanche, Fantom, and Terra guides.
IDEG Asset Management launches Ethereum product as ex-Bitcoin funds gain traction
Elsewhere, British Virgin Islands investment solutions provider IDEG Asset Management has partnered with Coinbase Prime to launch the Ethereum Enhanced Portfolio, according to a press release issued yesterday.
The portfolio will be an actively managed fund to track the price of Ethereum’s native token, Ether. It would be combined with an arbitrage strategy tracking spot prices and futures, allowing clients to optimize the returns they earn from a risk-adjusted environment that keeps low the high volatility that is synonymous with exposure to virtual assets.
The fund is restricted to US investors and would be the first IDEG product on Ethereum. Company spokesman Ian Stirling confirmed a minimum investment of US$100,000, adding that investors would have to pay a fixed management fee. However, details of the current level of investments in the fund and the size of the portfolio remain secret.
TIMES suite
The digital asset manager unveiled the Ethereum Enhance portfolio as part of a larger suite of products – TIMES, meaning Trust, Interest, Mining, Yield Earnings and Structured Solutions. This suite would be available to qualified investors, allowing them to interact with compliant thematic digital asset strategies with different levels of risk for professional investment options.
The release also confirmed that IDEG plans to plan more thematic funds under the TIMES umbrella this year, with strategies for multi-coin DeFi yield farms and GameFis Play-to-Earn to be developed natively.
While Coinbase Prime will take the place of sole custodian and prime broker for the fund, its choice follows a relationship that has spanned more than two years since the two companies partnered on Asia Bitcoin Trust I and Atlas Mining Trust I in 2019 received. IDEG’s Chief Operating Officer Suen Son Poon stated that Coinbase ensures the compliance and security of IDEG’s and its customers’ assets.
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