Robinhood Wallet has added support for Solana

• Robinhood Wallet now supports Solana tokens, with the self-custody wallet available on iOS and Android.
• Solana price rose slightly after the news.

The Robinhood Wallet, a self-custody wallet app available on iOS and Android, has added support for Solana (SOL).

Robinhood announced the big news on August 27, providing a positive flip in Solana sentiment as prices hovered near $155. SOL price rose slightly on the news before retreating as the broader market struggled.

With support for SOL and Solana-based tokens, the wallet has added a new gateway to web3 for cryptocurrency’s fifth-largest asset by market cap. It’s also a huge boost for an ecosystem that has over $9.8 billion in total value locked and more than 1.99 million active addresses (24-hour count).

Robinhood Crypto general manager Johann Kerbrat commented on the wallet’s support for SOL and SLP tokens:

“Super excited to announce that the Solana network is now live on Robinhood Wallet! Starting today, you can self-custody Solana tokens and send + receive over the Solana blockchain.”

Robinhood Solana

Just in: Robinhood Wallet has added support for Solana! https://t.co/Qxsu8mrVTE pic.twitter.com/7VumKVvCgT

— Solana (@solana) August 27, 2024

Popular Solana wallets

Robinhood’s self-custody wallet that allows users to hold their private keys and have full control over their assets, also supports many of the top cryptocurrencies. These include Bitcoin, Ethereum, Dogecoin, Arbitrum, and Polygon. The wallet also supports Optimism and Base tokens.

Several wallets – both browser-based and mobile app-based, support SOL and its ecosystem tokens.

Key integrations or features for these wallets include dApp connectivity, native staking and native swaps. Popular wallets are Phantom, Solflare and Torus, while hardware wallets such as Ledger and SafePal also support SOL.