Vlad Tenev, CEO of popular US investment app Robinhood, revealed on the 21st that the number of reservations of Robinhood’s new crypto wallet has exceeded 1 million, indicating a rising demand.
Popular investment app Robinhood announced last month has been testing its crypto wallet feature which it plans to roll out in early 2022. However, it will launch its pilot program with select clients this month to test out the features.
The crypto wallet will allow users to trade, send and receive digital currencies along with transferring them into hardware wallets.
Robinhood is extremely popular amongst the larger younger audience in the US due to its easy-to-use services even with a small number of funds. Its usage became more widespread during the COVID-19 pandemic, leading to a surge in meme stocks of AMC and GameStop.
In an interview with CNBC, CEO Tenev commented on the new features of the cryptocurrency wallet saying:
“A lot of people have been asking for the ability to send and receive cryptocurrencies, transfer them to hardware wallets, transfer them onto the platform to consolidate and the crypto wallets waitlist is well over a million people now.”
CEO Tenev also evaluated cryptocurrencies in general, saying that convenience and their global nature are some of the factors that attract many people towards it.