Buying and selling platform Robinhood has broadened its crypto lineup by introducing assist for Binance’s native asset, BNB, giving its 27 million funded customers entry to the fourth-largest cryptocurrency by market worth.
The transfer comes as BNB continues a formidable rally that started earlier this yr. After buying and selling close to $500 in February, the token surged to a report excessive above $1,350 earlier than stabilizing round $1,070, putting its whole market capitalization simply shy of $150 billion.
Robinhood’s itemizing follows Coinbase’s latest inclusion of BNB on its roadmap, signaling that main U.S. exchanges are more and more open to embracing property tied to Binance’s ecosystem – as soon as thought-about off-limits on account of regulatory considerations.
The newest rally, dubbed “BNB Season” amongst merchants, was pushed by hovering onchain exercise, together with report visitors on PancakeSwap and a wave of speculative memecoin buying and selling that attracted over 100,000 individuals.
With roughly $8.6 billion in crypto quantity processed in August alone, Robinhood continues to depend on digital asset buying and selling as a major contributor to its income. The corporate has additionally been ramping up efforts in tokenization and prediction markets as a part of its long-term progress technique.
“Tokenization is sort of a freight practice – it will probably’t be stopped,” CEO Vlad Tenev mentioned earlier this month, underscoring the agency’s perception that blockchain-based property will play a defining position in future monetary markets.
Since debuting Bitcoin and Ether buying and selling in 2018, Robinhood has steadily expanded its crypto choices to greater than 40 digital property throughout its app and worldwide change – a lineup that now consists of BNB.
