Robinhood Working To Provide Transfers for Cardano (ADA) and All Other Crypto Assets on Its Platform

Retail trading giant Robinhood is working on enabling external transfers for the Ethereum (ETH) competitor Cardano (ADA).

The firm, which cited customer demand as its reason for listing the ADA earlier this month, is again listening to a customer request on Twitter to be able to transfer Cardano.

Says the company in response,

“While you cannot transfer ADA in or out just yet, we’re working to make it available for all assets on our Robinhood Crypto platform. We’re here if you have any additional questions.”

Robinhood first launched crypto transfers in and out of its platform in July. The trading giant has had a difficult year, letting go of 9% of its staff in April and another 23% of its workforce in August.

Cardano is a scalable decentralized blockchain. The Ethereum competitor will launch its much-anticipated Vasil hard fork upgrade on September 22nd, according to Cardano developer Input Output Hong Kong (IOHK).

IOHK says that the Vasil hard fork is the “most significant” Cardano upgrade yet as it will greatly increase the blockchain’s network capacity and lower transaction costs. The firm also notes that Vasil will enhance Plutus, Cardano’s smart contract mechanism.

ADA is trading at $0.52 at time of writing. The 8th-ranked crypto asset by market cap is up over 8% in the past 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/gonin