- Robinhood Wallet now supports Solana tokens, with the self-custody wallet available on iOS and Android.
- The price of Solana rose slightly after the announcement.
Robinhood Wallet, a self-custody wallet app available on iOS and Android, has added support for Solana (SOL). Robinhood announced the update on August 27, delivering a positive boost to Solana sentiment as prices hovered near $155. SOL climbed modestly on the news before retracing as the broader market weakened.
With support for SOL and Solana-based tokens, the wallet provides a new gateway to Web3 for the cryptocurrency, currently the fifth-largest asset by market capitalization. This addition is a meaningful lift for an ecosystem that holds over $9.8 billion in total value locked and registers more than 1.99 million active addresses on a 24-hour basis. Johann Kerbrat, General Manager of Robinhood Crypto, commented on the wallet’s new SOL and SLP token support: “Super excited to announce the Solana network is now live on Robinhood Wallet! Starting today you can self-custody Solana tokens and send + receive across the Solana blockchain.”
Robinhood 🤝 Solana
Just in: Robinhood Wallet has added support for Solana! https://t.co/Qxsu8mrVTE https://t.co/7VumKVvCgT
— Solana (@solana) August 27, 2024
Popular Solana Wallets
Robinhood’s self-custody wallet, which allows users to hold their private keys and retain full control over their assets, also supports many major cryptocurrencies. In addition to Solana, supported assets include Bitcoin, Ethereum, Dogecoin, Arbitrum and Polygon. The wallet also supports tokens on Optimism and Base.
Multiple wallets—both browser-based and mobile apps—support SOL and tokens across the Solana ecosystem. Key integrations and features across these wallets include dApp connectivity, native staking and built-in swaps. Well-known Solana wallets include Phantom, Solflare and Torus, while hardware wallets such as Ledger and SafePal also provide SOL support.