Hawaii, Puerto Rico and the U.S. Virgin Islands

Residents of Hawaii, Puerto Rico, and the U.S. Virgin Islands can now trade Shiba Inu (SHIB) through the Robinhood trading platform.

Robinhood disclosed the news in a post on X today, noting that the move is part of an effort to expand its services in the United States.

Robinhood to Drive SHIB Adoption Through Expansion Plans

With Robinhood trading now available in Hawaii, Puerto Rico, and the U.S. Virgin Islands, cryptocurrency enthusiasts in these U.S. territories can now buy and sell supported digital assets on the platform, including the Shiba Inu.

Robinhood’s regional expansion will further strengthen Shiba Inu visibility and potentially drive mainstream adoption of the token. This isn’t the first time Robinhood has expanded Shiba Inu coverage in the United States.

In October the company extended its cryptocurrency trading service in Nevada, allowing users to trade 15 cryptocurrencies, including SHIB. Additionally, Robinhood has made SHIB, Compound (COMP) and Avalanche (AVAX) available to New York customers in April.

Undaunted, Robinhood has expanded its cryptocurrency trading service to multiple U.S. territories, including the U.S. Virgin Islands, Hawaii, and Puerto Rico. While Robinhood has not shared specifics about the recent milestone, expanding to these regions requires the company to obtain the relevant licenses.

SHIB Up 1.07% With Continued Support From Robinhood

At the time of writing, Shiba Inu is up 1.07% over the past 24 hours to trade at $0.00001731. The gain is in line with the price of Bitcoin (BTC), which is up 0.76% over the past 24 hours.

For context, Robinhood listed SHIB in April 2022 following enormous pressure from Shiba Inu community members. Since then, Robinhood has been one of the avenues for SHIB’s massive acquisitions. In May, a crypto whale moved 1.75 Trillion SHIB from Robinhood to an Untagged Blockchain Wallet.

Robinhood SHIB Holdings

Meanwhile, Robinhood is currently among the top holders of Shiba Inu, with one of its portfolios Jack 33.95 trillion SHIB, equivalent to $588 million, making the wallet the fourth largest holder of the dog-themed token.

Additionally, two other Robinhood-affiliated wallets hold 5.68 trillion and 4.8 trillion SHIB, respectively. Interestingly, these addresses are ranked among the top 20 largest SHIB holders.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal views of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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