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Costumers urged Robinhood to launch a crypto wallet
Speaking to Jim Cramer during CNBC's Disruptor 50 summit on October 21, Tenev said he was very "proud" of Robinhood's progress in the crypto space, as he highlighted the company's recent push to offer a crypto wallet to its users. He said, "A lot of people have been asking us for the ability to send and receive cryptocurrencies, transfer them to hardware wallets, transfer them onto the platform to consolidate. And you know, the crypto wallets waitlist is well over a million people now, which is very exciting."Robinhood's users have long been pushing the company to develop a crypto wallet. The platform currently does not support deposits or withdrawals and only allows users to buy cryptocurrencies with U.S. dollars and trade digital assets.
The company has been active in crypto since 2018
On September 22, Robinhood announced its plans to launch a digital asset wallet and opened a waiting list for initial access to the new feature. Last month, a Robinhood representative stated that the wallet will launch this month for some users and eventually be available to all users in early 2022.Robinhood first launched Bitcoin (BTC) and Ether (ETH) trading in 2018 for customers in five U.S. states. Since then, Robinhood has expanded its altcoin support to Dogecoin (DOGE) and Litecoin (LTC) assets. It currently allows traders based in all but four U.S. states to access its commission-free crypto trading services.
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