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Robinhood’s Waitlist for Crypto Wallet Has More Than 1M Customers: Report

·1-min read

The waitlist for Robinhood’s crypto wallet is now more than one million customers long, Robinhood CEO Vlad Tenev said at CNBC’s Disruptor 50 summit on Thursday.

  • Robinhood announced last month it was planning to roll out a crypto wallet in early 2022 that would allow customers to trade, send and receive cryptocurrencies, as well as transfer them to hardware wallets.

  • “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,” CNBC quoted Tenev as saying.

  • Commissions from crypto trading accounted for 41% of Robinhood’s revenue in its second quarter, up from just 17% in the first quarter. Overall, Robinhood has said that more than 60% of its customer traded cryptocurrencies in the second quarter.

  • Robinhood is slated to report its third-quarter earnings report on Tuesday, Oct. 26.

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