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Seeking Alpha 2021-10-22 11:09:44

Robinhood's signs up more than 1M for crypto wallet waitlist - CNBC

Robinhood's signs up more than 1M for crypto wallet waitlist - CNBC

Robinhood Markets' (NASDAQ:HOOD) waitlist for its recently announced cryptocurrency wallet tops 1M, CEO Vlad Tenev told CNBC on Thursday. The number illustrates people's interest in having the ability to send and receive cryptocurrencies directly to others. The wallets will let users consolidate their digital coins into one account. Robinhood started testing a crypto wallet feature this month. Coinbase Global (NASDAQ:COIN) and Gemini already offer wallets. "You can have a wallet, you can send people cryptocurrencies from that wallet to their wallet," Tenev said. "There's certain advantages that are in the technology that make it kind of global and accessible by default and that makes it very interesting." Robinhood (HOOD) started crypto trading three years ago. Cryptocurrencies trading accounted for $233M of Robinhood's $564M of Q2 net revenue. In July, Square (NYSE:SQ) said it's moving ahead with its development of a bitcoin wallet.

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