The online broker Robinhood expanded access to beta testing of its cryptocurrency wallet and said it plans to integrate the Lightning Network in the coming months.
Sent ✅ Received ✅ https://t.co/52vq3IMEoW
— Robinhood (@RobinhoodApp) April 7, 2022
Anyone on the nearly two-million-strong waitlist will be able to test the wallet’s functionality. All cryptocurrencies offered on the platform are available for transactions.
Residents of New York, Nevada and Hawaii will not have access to the service.
Robinhood’s CTO Aparna Chennapragada outlined the wallet’s capabilities in a blog post:
- QR codes for sending digital assets;
- enhanced security and fraud protection measures, including mandatory 2FA and address verification;
- the ability to view cryptocurrency prices in dollars before sending;
- the ability to track the status of transfers.
Network fees will be charged in addition to the broker’s fee.
Chennapragada promised to share further details as the functionality expands.
Robinhood announced the wallet beta test in September 2021 and its rollout to all users during 2022.
By the end of October, more than 1 million users had joined the waitlist.
In December the online broker struck a deal with Chainalysis to comply with regulatory requirements.
In January, thousands of selected customers started beta testing of the wallet.
Earlier, CEO Vlad Tenev called cryptocurrencies the cornerstone of Robinhood’s future growth.
In March, the online broker said it would replace debit cards with a new Cash Card offering cashback in digital assets.
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