Robinhood’s Waitlist for Crypto Wallet Has More Than 1M Customers: Report

The feature is in high demand by clients of the popular zero-commission trading app.

AccessTimeIconOct 21, 2021 at 9:53 p.m. UTC
Updated May 11, 2023 at 7:01 p.m. UTC
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The waitlist for Robinhood’s crypto wallet is now more than one million customers long, Robinhood CEO Vlad Tenev said at CNBC’s Disruptor 50 summit on Thursday.

  • Robinhood announced last month it was planning to roll out a crypto wallet in early 2022 that would allow customers to trade, send and receive cryptocurrencies, as well as transfer them to hardware wallets.
  • “Crypto is certainly here to stay as an asset class and the ease of use and the global nature of it, I think, has made it attractive to lots of people,” CNBC quoted Tenev as saying.
  • Commissions from crypto trading accounted for 41% of Robinhood’s revenue in its second quarter, up from just 17% in the first quarter. Overall, Robinhood has said that more than 60% of its customer traded cryptocurrencies in the second quarter.
  • Robinhood is slated to report its third-quarter earnings report on Tuesday, Oct. 26.
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