Robinhood, a financial technology (fintech) firm based in Menlo Park, California, announced the launch of a service offering that allows traders to have greater control over cryptocurrency assets.
Robinhood is reportedly testing ‘crypto wallets’ with selected customers. The announcement was made on their website just now. This wallet will allow investors to trade, send and receive crypto assets as well as facilitate the issuance of crypto assets.
This is as a step up from Robinhood after receiving criticism from users criticizing that they do not seem to own or have full control over crypto assets.
Robinhood product manager, Aparna Chennapragada informed in an interview with CNBC that they are determined to improve the service step by step. Certain customers will start testing the latest features and all feedback will be posted on their website.
Robinhood has been venturing into crypto trading for the past three years. Yet this year was an important year for them as the company recorded more than half of its revenue from crypto assets.
Following in the footsteps of Coinbase and Gemini, this latest Wallet will allow customers to pool their crypto assets into one account. Clients can then trade, send and receive crypto assets.
Robinhood says that this crypto wallet will have several security features including identity verification, factor verification, and email and phone verification to keep crypto assets safe from hackers.
So far the BTC price is trading down 1.60% in 24 hours at the trading level of $ 42,390.99.
