Robinhood is putting its crypto wallet and crypto transfer functionality to the test.
The Cryptocurrency firm Robinhood Markets Inc. is preparing and testing to release a new digital wallet. It is also planning to introduce crypto-asset transfer features that will enable users to send and receive cryptocurrencies like Bitcoin (BTC).
A Beta Version on iPhone Already Launched
Bloomberg News reported Robinhood’s new plan after studying a beta version released for its iPhone-specific app. The app also consisted of a hidden image that showed the waiting list of users waiting patiently to sign up for Robinhood’s new crypto wallet feature. Robinhood has not commented on the matter as of now.
Retail Shareholders Have Been Eager For a Digital Wallet
The retail shareholders of Rainbow Markets Inc have been waiting for a cryptocurrency wallet since a long time. Just a day before another cryptocurrency firm announced its first quarterly performance, the biggest question was whether it would launch a digital wallet as well. This data comes from a platform that enables companies and firms to crowdsource questions from retail investors.
Robinhood Market Inc. is betting high on the interest of retail investors in the space of digital and crypto-assets. At the beginning of September, the firm announced that it would soon release crypto recurring investments. This will allow users to purchase cryptocurrencies like Ethereum (ETH), Bitcoin (BTC) and Dogecoin (DOGE) without paying unnecessary commission. They will have an option to make transactions with even a dollar on a schedule of their liking and preference.
A move like this is sure to benefit Robinhood Markets Inc. and solidify its impact on the cryptocurrency space.