According to Robinhood CEO Vlad Tenev ,1 million people are on the waitlist for the long-awaited crypto wallet.
Tenev stated that he was very proud of Robinhood’s progress in crypto, as he highlighted the firm’s recent push to provide a crypto wallet for its users:
“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 users have long urged the company to develop a crypto wallet as the platform presently does not support deposits or withdrawals, and only permits users to buy crypto with U.S. dollars and trade digital assets on the platform.
Robinhood also announced its plans to roll out a digital asset wallet, and opened up a waitlist for first access to the new feature.
Tenev highlighted the significance of the emerging crypto sector, noting that it’s “here to stay as an asset class” and it holds specific advantages such as being able to connect a global market.
Robinhood first launched Bitcoin and Ether trading in 2018 for customers in five U.S. states. Robinhood has since expanded its altcoin support to assets such as Dogecoin and Litecoin and currently permits traders based in all but four U.S. states to access its commission-free crypto trading services.
