According to a Bloomberg report, the commission-free financial trading platform Robinhood is quietly testing new crypto wallet features for its customers that allow users to send and receive Cryptocurrencies.
According to reports, Robinhood users can currently only use US dollars to buy cryptocurrencies and trade digital assets on the platform, but they cannot withdraw the encrypted assets.
This is the first time the company has rolled out deposit and withdrawal capabilities for digital assets like Bitcoin (BTC).
Bloomberg reported that the beta version of the application on its iOS system reflects the company’s work on such features. There is also a hidden image that shows the waiting list page so that users can register for the encrypted wallet to function. It also includes the code related to the transfer of cryptocurrency assets.
Vlad Tenev, CEO of Robinhood, pointed out on the conference call on the second quarter results that adding a crypto wallet is a top priority for the company’s developers, saying:
“This is what our teams are working on. The ability to deposit and withdraw cryptocurrencies is difficult because of its size, and we want to make sure it is done correctly and properly.”
As reported by Blockchain.News on September 9th, Robinhood Markets Inc. has introduced a new feature for recurring cryptocurrency investments that allows customers to automatically invest in cryptocurrencies on a daily, weekly or monthly basis.
The new feature aims to enable its customers to purchase cryptocurrency commission-free and with a value of less than USD 1 in cryptocurrency of their choice on a monthly, weekly or even daily basis.
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