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Robinhood to start rolling out crypto wallets

January 21, 2022

Robinhood to start rolling out crypto wallets

Robinhood Markets Inc is rolling out crypto wallets to a 1,000 clients, allowing them to send and receive cryptocurrencies through their brokerage accounts, the organization said in a blog post on Thursday.

The Menlo Park-based online brokerage had laid out plans to start testing cryptocurrency wallets last year, with the aim broader rollout in 2022.

Out of almost 1.6 million individuals on a shortlist for the crypto wallet, the best 1,000 chose can now trade their crypto from Robinhood with external crypto wallets.

The new feature additionally connect holders of the digital asset for the blockchain ecosystem.

Robinhood Markets Inc is rolling out crypto wallets to a 1,000 clients, allowing them to send and receive cryptocurrencies through their brokerage accounts, the organization said in a blog post on Thursday.

The Menlo Park-based online brokerage had laid out plans to start testing cryptocurrency wallets last year, with the aim broader rollout in 2022.

Out of almost 1.6 million individuals on a shortlist for the crypto wallet, the best 1,000 chose can now trade their crypto from Robinhood with external crypto wallets.

The new feature additionally connect holders of the digital asset for the blockchain ecosystem.

Beta testers will have an everyday cutoff of $2,999 in total withdrawals and 10 transactions, and will need to enable two-factor authentication, the organization said.

Robinhood, which benefited from a boom in retail trading during the pandemic, expects to expand the program to 10,000 clients by March.

Its clients have long asked requested crypto wallets, which allow broader participation in blockchain-based ecosystems, for example, buying virtual aseets like non-fungible tokens (NTFs) on the Ethereum network.

Beta testers will have an everyday cutoff of $2,999 in total withdrawals and 10 transactions, and will need to enable two-factor authentication, the organization said.

Robinhood, which benefited from a boom in retail trading during the pandemic, expects to expand the program to 10,000 clients by March.

Its clients have long asked requested crypto wallets, which allow broader participation in blockchain-based ecosystems, for example, buying virtual aseets like non-fungible tokens (NTFs) on the Ethereum network.

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