22.06.2024

Robinhood Platform Prepares For Cryptocurrency Wallet Launch

In an interview published on the company’s YouTube channel, Robinhood CEO Vlad Tenev said that he wants to expand services in the field of cryptocurrency trading and add new trading pairs.

“As much as people bother me on this issue on social networks, so much I annoy our crypto team and software developers. We will try to update as soon as possible. And then we’ll see. There is a possibility that in the course of work we will add several new coins , ”Tenev said.

During the interview, Tenev also spoke out about the possible launch of the Robinhood cryptocurrency wallet, although he explained that they would be pondering the matter carefully.

As for the events around Gamestop, when the WallStreetBets movement raised the company’s stock price and the platform decided to suspend trading, Tenev limited himself to saying that it was definitely a bad name for the platform. There were no other comments from him.

In early January, Robinhood announced plans to go public through an IPO, which will give the platform the ability to sell shares through its own app.

The coronavirus pandemic has driven an increase in user numbers as the economic crisis prompted people to use the app for self-investment.

Robinhood’s audience has grown from 10 million users in December 2019 to 13 million in May 2020, according to CNBC.

In April 2020, Forbes included the platform in the top 10 largest fintech companies in the United States.

In early January 2021, Robinhood also announced a new partnership with renowned American supermarket chain Walmart to create a fintech startup offering innovative, reliable and state-of-the-art financial solutions.

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