Jason Warnick, Chief Financial Officer (CFO) of Kraken exchange, spoke about the listings at The Wall Street Journal's virtual CFO Network Summit.
The CFO responded to a petition requesting the Shiba Inu community to be listed on Robinhood. Jason Warnick explained that the company is asking for more clarity from regulators before adding new tokens. Warnick said:
"We're a highly regulated company in a highly regulated industry and we think it's important that we get a little more clarity from regulators."
The Shiba Inu community has previously launched a petition to have the Shiba Inu listed on Robinhood. The petition had collected over 550 thousand signatures.
The petition in question mentions that Robinhood lists Dogecoin, which was inspired by the joke. Robinhood's listing of Dogecoin has had very positive results for the firm as its revenue has increased due to the DOGE trading frenzy seen this year.
Robinhood currently allows users to buy, sell and hold Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Ethereum Classic, Dogecoin and Bitcoin SV. Late last year, the exchange launched a cryptocurrency giveaway program. In addition, the exchange's cryptocurrency wallet feature has a waiting list of 1.6 million people.
The price of the Shiba Inu has been on the rise recently after rumors suggesting Robinhood will list in February. Warnick's comments seem to dispel the listing rumors, while the CFO states that the company is focusing on compliance.
Warnick added that Robinhood has no plans to buy crypto for its corporate treasury. He explained the reason for this as follows:
“We have no strategically compelling reasons for our business to invest our corporate cash in cryptocurrencies.”
Last year, Robinhood Chief Operating Officer Christine Brown praised the Shiba Inu community but did not add any details as to whether the firm plans to list the SHIB.