Robinhood announced the addition of a crypto wallet to the service

Robinhood, a digital asset-friendly platform, plans to add a crypto wallet to its functionality as soon as possible. This was stated by co-founder and CEO Vlad Tenev in the framework of a podcast with clients.

“Just as I am pestered about this on social networks, with the same persistence I put pressure on the crypto team and developers. We work tirelessly, ” he said.

Robinhood currently does not allow users to transfer and withdraw cryptoassets.

During the conversation, Tenev admitted that the addition of new cryptocurrencies to the platform could coincide with the launch of the wallet.

As a reminder, in the first two months of 2021, the number of Robinhood Crypto users grew by 6 million .

In early March, the platform’s management predicted that fines and penalties as part of the settlement of claims from regulators could amount to at least $ 26.6 million .

One of the last controversial episodes in the history of Robinhood was the decision to suspend trading in some assets amid the pump of GameStop shares .

On February 18, co-founder and CEO of the platform, Vlad Tenev, apologized for a temporary ban on hearings at the Financial Services Committee of the US House of Representatives. He also denied collusion with hedge fund Melvin Capital and market maker Citadel.

The company recently hired a former Google executive to oversee products, design and research.

As a reminder, Bloomberg sources announced Robinhood’s plans to apply for an initial public offering.

Leave a comment