Stock trading application Robinhood will launch their Beta cryptocurrency wallet in mid-January 2022.
This was disclosed via a blog post from Robinhood. In September, the stock trading app announced that they are working on a crypto wallet that would allow its customers to trade, send and receive crypto using their app.
According to the blog post, Robinhood currently have more than 1.6m on the waitlist for the wallet. “We saw 1 million waitlist sign ups in less than 30 days, and as of today, more than 1.6 million people have signed up for wallets”, says the trading app.
While we’re eager to roll-out new products as quickly as possible, building wallets and connecting our millions of customers “on-chain” (connecting with the blockchain) is a big undertaking. We take this responsibility seriously, which is why we’re rolling out wallets methodically, and with Safety First in mind.
The stock trading app has been testing its Alpha version of the crypto wallet with a tight-knit group of customers from their wallet waitlist. During the Alpha test, Robinhood made its first cryptocurrency transfer, sending DOGE to an external wallet.
#WalletsAlpha update! Last week we sent our first alpha transfer from a Robinhood wallet to an external wallet.
— Christine (Hall) Brown (@christine_hall) November 22, 2021
The feedback received from the Alpha testers include: deliver a distinctly Robinhood experience, security and help them learn more about crypto in regards clarity on network fees and transaction ID.
The Beta version of Robinhood’s crypto wallet will launch in mid-January 2022. It will be rolled out to customers already on their waitlist and more information in regards the launch will be officially announced by the trading app in the coming weeks.