Robinhood tests crypto wallet and crypto transfer features

Image Source: Reuters

Popular stock trading and investing app Robinhood is reportedly testing new crypto wallet and crypto transfer features to let users send and receive digital currencies.

As reported by Bloomberg, evidence was found in the beta version of Robinhood’s iOS app which now includes code for crypto transferring and a hidden image of a waitlist of users that signed up for the new crypto wallet features. 

Robinhood already allows users to buy and sell cryptocurrencies including Bitcoin, Ethereum and Dogecoin. However, the new crypto wallets will enable users to buy and sell their cryptos without needing to convert them to dollars and manage all their currencies in a secure place. 

Also Read: Robinhood Revenue and Usage Statistics

During a conference call after the company posted its second quarter earnings, Robinhood CEO Vlad Tenev said that adding crypto wallets to the platform is one of the company’s top priorities. 

It’s something that our teams are working on,” Tanav said. “The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.”

Although he didn’t share when Robinhood would launch its crypto wallets, the new code and the hidden image found in the app suggests that the launch is pretty soon.

The financial services company recently added ‘crypto recurring investments’ feature to its app to allow users to automatically buy their favorite crypto currencies on a regular basis.

Written by Sophie Blake


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