Over One Million People Expect Robinhood's Crypto Wallet

In September, the team of online broker Robinhood confirmed rumors about testing its own cryptocurrency wallet. Since then, more than 1 million people have joined the company's wallet waitlist.

This data was shared by the co-founder of Robinhood Vlad Tenev at the CNBC summit called Disruptor 50. According to him, the company will allow its customers to extract additional value from the cryptocurrencies they already have at their disposal. Tenev also stressed that the ability to instantly transfer tokens from one wallet to another makes the industry more global and attractive to millions of consumers around the world.

Robinhood went public back in July and has attracted even more users to its platform since then. According to statistics previously published by company representatives, more than 60% of accounts traded in cryptocurrencies throughout the period were affected by the income statement for the second quarter of 2021. At the same time, commissions earned from trading digital currencies amounted to 41% of Robinhood's revenue in the second quarter of this year, which is 17% better than the result achieved in the first quarter of 2021. The company intends to submit a report on its profit for the third quarter of 2021 as early as Tuesday, October 26.

Robinhood plans to open access to its cryptocurrency wallet to all customers in the first quarter of 2022, but for now, invites everyone to take part in the upcoming beta test by registering in the so-called “waiting list”. To date, more than 1 million people have already registered in it, and this number is growing rapidly.

With their support, users make it clear to the company's representatives that they are looking forward to the possibility of transferring funds from wallet to wallet and expanding the functionality of the cryptocurrency platform.

During Disrupt 50, Tenev was also asked if the company plans to expand support for Shiba Inu (SHIB) tokens, to which the CEO responded “unlikely,” citing Robinhood's strict policies and selectivity regarding the listing of assets on the marketplace.

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