The crypto-friendly platform Robinhood plans to add a cryptocurrency wallet to its functionality as quickly as possible. This was stated by co-founder and CEO Vlad Tenev in a client podcast.
“As I am harassed about this on social media, with the same persistence I am pressuring the crypto team and developers. We are working around the clock,” — he said.
At present, Robinhood does not allow users to transfer or withdraw crypto assets.
During the discussion, Tenev said that the wallet’s launch could be timed with the addition of new cryptocurrencies to the platform.
In early March, platform management projected that fines and penalties in settlement of regulator claims could amount to at least $26.6 million.
One of the more controversial episodes in Robinhood’s history was the decision to suspend trading of certain assets amid the GameStop stock pump.
On February 18, co-founder and CEO Vlad Tenev apologised for the temporary ban during his testimony before the US House Committee on Financial Services. He also rejected claims of collusion with hedge fund Melvin Capital and the market maker Citadel.
Recently the company hired a former Google executive, who will oversee product, design and research.
Bloomberg sources reportedthat Robinhood planned to file for an initial public offering.
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