Robinhood Adds Aave and Tezos

Trading app RobinHood has added cryptocurrencies Tezos (XTZ) and Aave (AAVE), allowing users to buy and sell the tokens on its platform.

The company tweeted the announcement on Monday, linking to a web page showing crypto that has been newly listed on Robinhood.

Tezos is a proof-of-stake blockchain network, while Aave is a decentralized lending protocol. Both their native tokens have market capitalizations of over $1 billion.

At the time of writing, AAVE’s price was up around 5% on the day, per CoinGecko, but XTZ remained relatively unmoved.

They are the latest crypto assets added to Robinhood, which boasts 18.7 million monthly active users.

The company has added a number of new coins this year, including Polygon, Solana, and Avalanche. Today’s addition brings the total offering on the platform to 19 crypto assets.

Robinhood courts crypto traders

Last month Robinhood also listed its first stablecoin in the form of USD Coin.

In another move to court the crypto trader market, Robinhood is launching its own crypto wallet, with a beta version launched to around 10,000 people last month. The product is being developed in partnership with the Polygon framework.

It comes at the same time as Robinhood’s rivals are also eyeing the crypto market, with European digital bank N26 launching its own crypto trading service last week. Another neobank, Revolut, has won approval from UK regulators to offer crypto services in the country.