Robinhood, the US-based zero-commission trading app, plans to launch a cryptocurrency wallet next month.
Robinhood is a trading app that was first released in 2013. Since last year, the firm has been interested in cryptocurrencies, and they announced that a cryptocurrency wallet would be released shortly.
After months of testing, the American financial services business renowned for commission-free trading of stocks, exchange-traded funds, and cryptocurrencies is finally ready to launch the beta version of its crypto wallet. The beta version will be available in the coming weeks, and up to 1 lakh users will be able to test the beta version.
This week, the business revealed in a blog post that the wallet app’s testing phase is now complete. Robinhood “sought feedback from a close-knit group of users” throughout the testing period, who offered feedback on the app’s design and usability.
According to a Business Insider report, the Alpha program for the platform saw 1 million users sign up in just 30 days. There are now 1.6 million users waiting on the waiting list. Robinhood also revealed that it had made the debut transfer of dogecoin to an external wallet.
Robinhood has grown to become one of the biggest financial players in the US, and with the recent boom in the crypto market, it is no surprise that they would want to get involved. Robinhood offers a zero-fee trading platform, and their decision to provide crypto trading will likely help them gain even more users.
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