Robinhood Shares Plans To Launch Crypto Wallet In Early 2022
Milestone Date: September 22, 2021
The waitlist is now open for Robinhood users to sign up for access to its new crypto wallet, which is expected to be available in early 2022. Users can move halfway up the waitlist by referring others to join the waitlist as well.
“We want to make sure our systems are scaling and that we’re prepared to handle the full load, so we’ll be giving people from the waitlist access first, and then we’ll have general availability out to 100% by early 2022,” said Christine Brown, Robinhood’s Chief Operating Officer in a quote to Coindesk.
Robinhood will be launching an “alpha program” that allows a very small set of users to access the wallet and provide feedback on its functionality.
Crypto isn’t new to Robinhood. They have been supporting crypto trading since 2018, and its growth in users trading crypto on the platform has grown significantly. In August 2021, the company reported that 41% of its revenue comes from crypto trading, and more than 60% of its user base trades crypto.
With the release of its own crypto wallet, Robinhood users will be able to withdraw their crypto and transfer assets without leaving the Robinhood ecosystem.
By Elizabeth Morrison
Published:September 22, 2021