Broker Robinhood Started Testing Cryptocurrency Wallet

Currently, Robinhood clients can trade digital assets, but do not have the ability to exchange them with each other.

Online broker Robinhood has begun testing its own cryptocurrency wallet that will allow users to exchange bitcoin and other crypto assets, Bloomberg reports .

According to the publication, support for crypto assets appeared in the beta version of the Robinhood app for the iOS operating system. At the moment, Robinhood users can trade digital currencies and exchange them for regular money.

BREAKING: Robinhood is testing new crypto wallet and cryptocurrency transfer features for its app https://t.co/V7s9HAyjZ4 pic.twitter.com/SAUInZIGIx

`; var iframe = document.createElement('iframe'); iframe.src = 'about:blank'; document.getElementById('1600080000012-1').appendChild(iframe); iframe.contentWindow.document.open(); iframe.style.width = '320px'; iframe.style.height = '280px'; iframe.style.margin = '0px'; iframe.style.align = 'bottom'; iframe.style.scrolling = 'no'; iframe.style.overflow = 'hidden'; iframe.style.border = '0'; iframe.contentWindow.document.write(htmll); iframe.contentWindow.document.close();

— Bloomberg (@business) September 20, 2021

Robinhood is an online broker that does not charge clients for trades. The company makes money thanks to the PFOF (payment for order flow) system, which allows it to receive commission from market makers.

In July of this year, Robinhood held an IPO (initial public offering), during which the broker was valued at $ 31.8 billion.

In July, Twitter founder and Square CEO Jack Dorsey confirmed that his company is also developing a hardware cryptocurrency wallet.

We’re doing it #Bitcoin https://t.co/IwbKuBoXGv

— jack⚡️ (@jack) July 8, 2021