Robinhood to test crypto wallets before full launch in 2022
Popular US investment app Robinhood announced on the 22nd that it has plans to release a wallet for cryptocurrency in October. The company will initially roll out the beta version of the app and release a broader version in early 2022.
The news was revealed when Bloomberg reported that its iPhone-compatible beta app has confirmed the reservation window for cryptocurrency wallets.
According to the official announcement, initially, selected customers will test the crypto wallets on Robinhood before adding other users who have joined the waiting list to get early access to the wallet.
The phased approach of launching the wallet was explained by Robinhood chief product officer Aparna Chennapragada in an interview with CNBC. She said:
“We’re not first to the market — we’ve been taking our time to make sure that we build this in a phased approach. We’ll have a few customers come in, iterate on the product, get the customer feedback and then expand from there.”
Once the wallet is implemented, users will be able to withdraw cryptocurrencies purchased from Robinhood to an external wallet and likewise deposit money from an external wallet into Robinhood’s wallet.
Robinhood currently has over 7 cryptocurrencies listed on its exchange which are, Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), and Ethereum Classic (ETC).
In addition to cryptocurrencies. The company offers trading in over 5,000 stocks, ETFs, and other options trading.
The post Robinhood to test crypto wallets before full launch in 2022 appeared first on Our Bitcoin News.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Gauri Bhatia, @Khareem Sudlow
