Robinhood claims that it currently has 1.6 million people registered on the waitlist for the company’s crypto wallet. This number has increased from the 1 million people who were waiting several weeks ago, according to Chief Operating Officer of Robinhood Crypto Christine Brown.
The highly anticipated wallet will be launched in the first quarter of 2022, Brown stated yesterday at a crypto investing industry conference by Decrypt and Yahoo. In late October, Robinhood’s CEO Vlad Tenev said the move was related to the rapidly increasing importance of cryptocurrencies for its platform.
At CNBCs Disruptor 50 summit Tenev said, “We’re very proud of our cryptocurrency platform and giving people more utility with the coins they have.” According to the CEO, many people have been asking to send and receive cryptocurrencies, transfer them to hardware wallets and transfer them onto the platform. The crypto wallet waitlist is now well over a million people due to these demands.
Tenev also pointed out that cryptocurrencies are “here to stay” saying that the global nature of the coins and their perceived ease of use have made them “attractive to lots of people.”
Last September, Robinhood announced that it would be rolling out crypto recurring investments. The firm said that the platform’s users would be able to buy crypto assets on a regular basis and that these purchases would be commission free and would start as just $1 on a daily, weekly, biweekly or bimonthly schedule.
Robinhood is not the first platform to provide such a feature to its users. UK-based Revolut also offers a recurring buy functionality to its customers. Binance has also announced the launch of its own recurring buy feature that is now live.
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