Trading platform Robinhood has announced the beta launch of its cryptocurrency wallets, which is set for mid-January. The company said 1.6 million people have signed up for the crypto wallets.
Robinhood’s crypto wallets to launch in beta this month
Robinhood announced this week the next beta launch of its highly anticipated cryptocurrency wallets. The company unveiled its proposed crypto wallet in September to allow customers to trade, send, and receive cryptocurrency using the Robinhood app.
Noting that 1.6 million people have signed up for its crypto wallets so far, the announcement details:
In mid-January, we will launch the beta phase of the portfolios, which will roll out to thousands of customers on the waitlist.
Robinhood also revealed that during the wallet’s alpha launch, which recently wrapped up, “a tight-knit group” of customers from the waitlist tested the company’s first crypto wallet iteration “and shared detailed design and functionality feedback.”
For example, alpha testers “asked for signage and explanation of terms such as” network charges “and” transaction ID “”.
Robinhood added:
We will be rolling out some additional security features for crypto transactions. These include multi-factor authentication in-app, so we know it’s you when you initiate a transfer, and transaction checks to better understand the risk of where coins are being sent.
“While some say 2021 is the year crypto went mainstream, the truth is that most people are still familiar with the asset class and how to navigate the blockchain,” the trading platform noted. .
In December, Robinhood partnered with Chainalysis to leverage the blockchain data analytics firm’s “data and tools to meet compliance requirements and provide Robinhood customers with the confidence they need to trade cryptocurrency safely,” Chainalysis described.
