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Home Crypto News Market Toronto-Based Online Broker Wealthsimple Added Support For Shiba Inu

Toronto-Based Online Broker Wealthsimple Added Support For Shiba Inu

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Toronto-based online brokerage service Wealthsimple has added support for the Shiba Inu cryptocurrency, the company announced Thursday.



Wealthsimple ventured into cryptocurrency trading in July 2020, launching a new subsidiary called Wealthsimple Digital Assets. Initially, its users were able to trade only Bitcoin and Ether, the two largest cryptocurrencies.

In June, it obtained approval from the Ontario Securities Commission (OSC) to expand its cryptocurrency offering. It listed 14 new digital assets, including Solana, Cardano, and Dogecoin.

Last month, the company also added cryptocurrency-based exchange-traded funds to retirement plans.

Founded back in 2014, Wealthsimple now boasts over 1.5 million users.

The popular online trading platform has come under criticism for not allowing users to withdraw their cryptocurrencies to other wallets, which is also the case for Robinhood. Wealthsimple customers are only able to trade crypto within the app.

Robinhood competitor listed Shiba Inu in October.

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Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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