"We think that the short-term gain we might get is not worth the long-term trade off for our users," the company's chief operating officer says.
Robinhood users may face a long wait before SHIBA INU is listed, the company's chief operating officer has suggested.
Christine Brown suggested that the trading platform is adopting a different approach to Coinbase, which has said its goal "is to list *every* asset where it is legal to do so."
"Our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now. We think that the short-term gain we might get is not worth the long-term trade off for our users."
And stressing that the company has adopted a "safety first" approach, the executive added Robinhood aims to assess everything from a regulatory perspective, too.
But striking a positive note about SHIBA INU, Brown told the Crypto Goes Mainstream conference:
"One of my favorite things is seeing the community around these coins really engage with us and let us know what they want."
What This Means
It's a bit unusual that Dogecoin somehow fits Robinhood's criteria, but SHIBA INU doesn't.
Robinhood went on to warn that its business could be hurt "if the markets for Dogecoin deteriorate or if the price of Dogecoin declines."
But Robinhood's reticence to list SHIBA INU, like Coinbase, means that it's potentially missed out on millions of dollars in revenue — all while prompting its customers to take their business elsewhere.