Robinhood to Cause More Chaos by Launching a Cryptocurrency Wallet
If the recent actions taken by Robinhood a commission-free trading app went unnoticed by established cryptocurrency exchanges earlier this year, then they probably will soon enough.
Based on a job advert that was seen on the website of recruitment consultants, Greenhouse, Robinhood is claimed to make plans on launching a cryptocurrency wallet. This will make it possible for Robinhood customers to transfer their crypto assets from other wallets and brokerages into the platform without having to, first of all, sell them.
Presently, for customers of the commission-free trading app to move their cryptocurrencies in and out of Robinhood, they need to sell them first, transfer the money to the platform of their choice and then buy the cryptocurrencies of their choice.
According to the job add, the commission-free trading app is finding a ‘Crypto Engineer; who will be in charge of creating new features for the company’s crypto product in addition to other things.
“As a Crypto Engineer you’ll: Build out new functionality for our crypto product, such as adding new currencies or providing wallet functionality…” reads the job advertisement.
For customers to be considered, they need to have a least one year of experience in crypt or blockchain development including having experience with distributed services.
A spokesperson for Robinhood which presently has a valuation of $5.6 billion customers has been seeking for a way to transfer cryptocurrencies into the app from other services. In addition to the ability to transfer cryptocurrencies around, having its own cryptocurrency wallet could also give its customers a more secure way for keeping their digital assets.