Just recently, Vlad Tenev, the chief executive officer at Robinhood has made an announcement in regards to the cryptocurrency wallet. Just recently, Robinhood had announced that it was in the process of launching its cryptocurrency wallet.
The firm had announced that while the development of the crypto-wallet was in progress, the Robinhood users would have the option of signing up for the waitlist. Therefore, the Robinhood CEO has shared the number of requests they have received so far for the crypto-wallet waitlist.
Tenev revealed that as of now, the number of waitlist signups requests submitted by the users has crossed the 1 million mark.
It was during the Disrupt 50 summit on Thursday, October 21, 2021, at CNBC, when Tenev made the claim about the wallet with Jim Cramer. Tenev stated that he is really proud and glad to see the progress Robinhood has made in terms of cryptocurrencies.
Since the beginning of 2021, Robinhood has gained tremendous growth and its revenues/profits have been a happy story for their firm. Robinhood is constantly moving upwards when it comes to cryptocurrency adoption and it is aiming to offer more to the users.
With the passage of time, their platform has become very popular among cryptocurrency enthusiasts. Their initial growth and success came from Dogecoin (DOGE), which ended up becoming a concerning matter for Robinhood in the mid of second quarter of 2021.
Now, they are making all the efforts to increase their portfolio and add more digital assets for the benefit of the users. With the development and launch of the cryptocurrency wallet, they will be able to bring in more cryptocurrency investors to their platform.
Since the beginning of 2021, majority of the cryptocurrency enthusiasts have been demanding a wallet. The cryptocurrency investors have demanded that they want the ability to send as well as receive cryptocurrencies directly through the Robinhood platform.
Therefore, it brings them the great joy that they will finally be able to deliver to their clients what they had been craving for such a long time.
With the launch of a cryptocurrency wallet, they will be able to ensure that their business continues growing. For them, the cryptocurrency trading industry is one of the most profiting spaces and they do not want to lose it.
Once the wallet is launched, it would offer all the benefits and functionalities that other cryptocurrency wallets currently offer. However, they will be able to offer even more security and protection to the users for their funds.
As their firms are regulated, therefore, they are confident that they will be able to offer so much more to their users. Soon, they are aiming to cater to several mainstream institutions in terms of cryptocurrency adoption.