On Wednesday, Public.com, Robinhood’s competitor, reveals that it now offers Shiba Inu. $SHIB is the parody cryptocurrency named after Japan’s famous dog breed.
New York-based online brokerage implemented cryptocurrency support in early October, beginning with a number of different altcoins like Bitcoin and Ether before moving on to Litecoin.
Public debuted in 2019 as a rival to Robinhood and WeBull. After a $220 million investment round in February, the company’s value jumped to $1.2 billion.
Shiba Inu’s price increased significantly on Monday. It is a result of false rumors that the Robinhood will be listing the stock, according to U.Today.
India’s and Turkey’s oldest crypto exchanges lists Shiba Inu earlier this month.
📈 About Robinhood’s Competitor
Public.com wants to make investment in the stock market more accessible to a broader range of consumers.
“We believe a big reason why many people do not invest is due to financial literacy. It is because of costly financial products, and surging share prices that sometimes require people to invest $1,000 or more to buy a single share of popular, high-performing equities,” said Katie Perry in a blog for Public.com.
A social feed on Public.com allows users to keep track of their friends and topic experts, see what they’re investing in, and trade ideas.
Investing in equities and exchange-traded funds are now possible fractionally in real time. It allows investors to buy a small portion of the stock if they choose to. Stocks and ETFs are organized by “themes,” such as women-owned businesses or self-driving cars. The company’s boast of a friendly and easy user experience.
Securities Investor Protection Corp. insurance amounting to $500,000 on investments and $250,000 on cash are also available, as is in-app chat help. The interest rate on cash holdings up to $10,000 is 2.5 percent.
Public.com, which employs 35 people, went live in September of last year after nearly a year in beta.