Robinhood plans to take a closer look at crypto-currencies, according to CEO Vlad Tenev

Vlad Tenev — Robinhood CEO — reveals that the company aims to deliver more cryptocurrency, like the digital wallet, to its customers.

He did not specify, however, when the company would make new offers.

Is Robinhood’s crypto scope expanding?

The US financial services company — Robinhood Markets Inc. — plans to offer its nearly 18 million users more cryptocurrency options.

CEO Vlad Tenev confirmed the news and highlighted digital assets as a basis for the future of the company during the recent public roadshow.

He said the customer’s demand for crypto wallets increased, so that Robinhood was working towards this objective:

“We’ve been doing a lot of work behind the scenes to provide our crypto customers with the functionality that they’ve been asking for. We know you want wallets.”

Tenev said customers could expect the release at “some point” of the long-awaited bags and had no timelines.

Interestingly, the top executive assured Robinhood a few months ago that the service would start “as quickly as it can.”

In addition, more offers would be added to the retail investment app.

Currently, without the help of cryptocurrence exchanges, users cannot transfer virtual assets into and out of their accounts.

Tenev claimed that Robinhood was going to fix this, stating that it was going to strictly monitor every further move on safety grounds:

“We want to introduce new features safely. And there’s a lot of items we have to get right from the start.” from Wikipedia Source, Vlad Tenev.

Robinhood users are loving Dogecoin

The investment app, due to be released on Thursday, recently announced that 34% of its trading revenue was accounted for by Dogecoin, the mainstream meme coin.

Robinhood reported a 4 percent increase in sales from cryptocurrencies at the start of this month.

It is interesting that DOGE accounted for 30 percent of these earnings.

The inspired Shiba coin outpaced leading markets like Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).

The company’s officials warned Dogecoin trade was such “substantial” that it could have a highly negative impact on the company’s future potential decline:

“If demand for transactions in Dogecoin declines and is not replaced by new demand for other cryptocurrencies available for trading on our platform, our business, financial condition, and results of operations could be adversely affected.”

Over more than 300 percent of total revenues from 128 million dollars to 522 million dollars for cryptocurrencies were generated year on year.

Benefit from experienced traders with copy trading on NapBots https://NapBots.com 1 week free trial ! Discover more than 20 strategies dedicated to crypto-currencies, on the most liquid pairs (BTC, ETH …).NapBots allow novices to trade crypto easily and help traders save a lot of time! Bots work tirelessly to scan the markets and navigate through volatility to try to capture profitable trends.