Robinhood to launch beta version of its crypto wallet in January


Robinhood Markets has announced that it will launch a beta version of its cryptocurrency wallet in January.

After months of trials; the American financial services company known for commission-free trades of stocks, exchange-traded funds and cryptocurrencies; is now ready to move to the beta version. Beta version will be now available to up to 1 lakh customers.

“What’s next? The #WalletsBeta phase will start in mid-January & enable a larger group of users from the waitlist to gain access. While Alpha focused on a small batch of customers and 1:1 engagement, Beta will roll out to tens of thousands of customers,” Christine Brown, Robinhood Crypto COO tweeted on Wednesday.

Brown said since Robinhood’s Alpha program ended, the company has been reviewing the feedback and findings. She said there will be additional clarity around network/gas fees and security was top of her mind.

According to a Business Insider report, the platform’s alpha program saw 1 million waitlist sign-ups in less than 30 days, and currently, around 1.6 million in total. Robinhood also announced it made its first dogecoin transfer to an external wallet.

Robinhood users can trade in cryptocurrencies, but currently they can’t store, manage, or swap digital assets in and out of their accounts. A wallet will allow them to manage their holdings within the app. Coinbase and Gemini already offer their own wallet.

(Edited by : Bivekananda Biswas)

First Published:  IST

Read More: Robinhood to launch beta version of its crypto wallet in January

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