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Robinhood Launches Beta Cryptocurrency Wallet

by Vaibhav
January 22, 2022
in News
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Chainalysis Helps Robinhood with Crypto Compliance
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Online broker Robinhood has launched a cryptocurrency wallet beta program for 1,000 selected clients on a waiting list.

Over the duration of the Beta program, we will be working to finalize the send and receive flows and add delightful QR scanning experiences, improved transaction history, and block explorer support so you can see your transactions on-chain— and more!https://t.co/db5afxwQWx

— Christine (Hall) Brown (@christine_hall) January 20, 2022

By March, the number of participants will expand to 10,000 users who have applied earlier.

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The company expects testers to help validate the core functionality of the app and provide feedback to build the final version of the product.

“As part of the beta program, we will refine the send and receive flows, add QR code scanning capabilities, improve transaction history, and enable block explorer support to provide more information about transactions on the network,” the blog says.

Test participants have a withdrawal limit of $2999 per day to external wallets with a limit of 10 transactions. Two-factor authentication is required.

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In March 2021, Robinhood co-founder and CEO Vlad Tenev stated that the platform plans to add wallet functionality in a short time. In May, COO Christine Brown confirmed the imminent emergence of the possibility of withdrawing digital assets.

In September, the media reported on the start of testing the application, the company confirmed the plans. At that time, Robinhood expected to complete the deployment of the wallet for all users during 2022.

Recall that in July the online broker went on IPO. In anticipation of this event, Tenev called digital assets the basis for the future development of the company.

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