Robinhood Is Working to Enable Cardano (ADA) and All Other Crypto Asset Transfers on Its Platform

Robinhood is in the process of allowing external transfers for Cardano, an Ethereum (ETH) rival.

The company, which listed ADA earlier this month in response to consumer demand, is again considering a Twitter request from a client to enable Cardano transfers.

“Although ADA cannot be transferred in or out at this time, we are aiming to make it accessible for all assets on our Robinhood Crypto platform. If you have any extra queries, we are available.”

In July, Robinhood introduced cryptocurrency transactions into and out of its platform. The trading powerhouse has had a rough year, laying off 9 percent of its personnel in April and 23 percent more in August.

Cardano is a decentralized, scalable blockchain. According to Cardano developer Input Output Hong Kong, the Ethereum rival will release its highly-anticipated Vasil hard fork update on September 22. 

Vasil is the “biggest important” Cardano improvement to yet since it will significantly enhance the blockchain’s network capacity and reduce transaction fees. The company also states that Vasil will improve Cardano’s Plutus smart contract system.

ADA is now selling at $0.52 per unit. The eighth-ranked crypto asset by market capitalization has increased by more than 8% during the previous 24 hours.

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