Inventory buying and selling and investing app Robinhood has reportedly been testing new options, together with a crypto pockets and cryptocurrency transfers. “The power to deposit and withdraw cryptocurrencies is difficult to do with scale, and we wish to be sure that it’s carried out appropriately and correctly.”
Robinhood to Add Crypto Pockets and Switch Options
Investing app Robinhood is “quietly” testing a number of new options, Bloomberg reported Monday, describing:
Robinhood Markets Inc. is testing new crypto pockets and cryptocurrency switch options for its app.
Proof of the brand new options has appeared in a beta model of Robinhood’s iPhone app, the publication conveyed, including that the deliberate choices had been found by software program developer Steve Moser.
Robinhood CEO Vlad Tenev beforehand mentioned that including a crypto pockets is a precedence for the corporate’s builders however didn’t point out when the launch can be. He mentioned on the corporate’s second-quarter earnings name:
It’s one thing that our groups are engaged on. The power to deposit and withdraw cryptocurrencies is difficult to do with scale, and we wish to be sure that it’s carried out appropriately and correctly.
Tenev famous that these options are notably in demand amongst dogecoin (DOGE) fanatics.
Cryptocurrency buying and selling on Robinhood reached file ranges in the second quarter, accounting for greater than half of all transaction-based revenues. The meme cryptocurrency dogecoin in specific made up 62% of the crypto buying and selling quantity in the second quarter.
The brand new crypto options are being examined as a part of an “alpha program,” data inside the code of the Robinhood app reveals. The publication additional famous that the code additionally revealed the corporate’s plans for “spare change investing and an early-deposit choice for checking accounts.”
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