Robinhood CEO Says Waitlist for Firm’s New Crypto Wallet Reached 1 Million Customers

On Thursday, Robinhood CEO Vlad Tenev spoke at a conference called the Disruptor 50 Summit and the executive explained that the waitlist for the company’s recently announced crypto wallet has 1 million sign-ups so far. “We’re very proud of our cryptocurrency platform and giving people more utility with the coins they have,” Tenev said during the event.

Vlad Tenev, the founder of Robinhood Markets, told the public on Thursday that the waitlist for Robinhood’s crypto wallet has reached 1 million customers. Speaking at CNBC’s Disruptor 50 Summit Tenev explained how popular cryptocurrencies are on the financial services application. “We’re very proud of our cryptocurrency platform and giving people more utility with the coins they have,” Tenev said at the event. The CEO added:

“We rolled out our wallet’s waitlist. 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.”

In September, Bitcoin.com News reported on Robinhood adding a recurring crypto buy feature and after the company added the service to the app, Robinhood said it was testing new crypto wallet and transfer features. In addition, two months prior, an in-depth report said that Robinhood was likely the owner of the largest dogecoin (DOGE) address. However, in the spring, Tenev had dismissed the dogecoin address speculation.

When discussing the new crypto wallet rollout this past week, Tenev remarked that there are benefits to digital currency wallets. “You can have a wallet, you can send people cryptocurrencies from that wallet to their wallet,” Tenev said. “There’s certain advantages that are in the technology that make it kind of global and accessible by default and that makes it very interesting.”

The Robinhood founder also noted that he thinks cryptocurrencies and the crypto economy have made their mark and it will likely remain that way. “Crypto is certainly here to stay as an asset class and the ease of use and the global nature of it, I think, has made it attractive to lots of people,” Tenev concluded.

What do you think about Robinhood’s CEO saying that a million customers are waiting to leverage its crypto wallet? Let us know what you think about this subject in the comments section below.