Robinhood rolls out wallets to 2M waitlisted users, plans to integrate Lightning

Cryptocurrency and banal trading app Robinhood volition rotation retired its integer wallet diagnostic for 2 cardinal further users.

In a Thursday announcement astatine the Bitcoin 2022 league successful Miami, Robinhood main merchandise serviceman Aparna Chennapragada said eligible customers which had been connected the waitlist for the integer wallet could present nonstop and person cryptocurrencies — much than 2 cardinal people. In addition, the level is readying to integrate the Bitcoin Lightning Network to trim the clip and outgo of transactions arsenic good arsenic their c footprint.

Super pumped to denote connected the #Bitcoin2022 signifier that @RobinhoodApp has rolled retired wallets entree to the astir 2 cardinal radical connected the WenWallets waitlist.

— Aparna Chennapragada (@aparnacd) April 7, 2022

According to Robinhood, the crypto wallets volition not beryllium disposable to users successful Hawaii, Nevada oregon New York “due to section regulations.” The level had been investigating its integer wallet diagnostic since September 2021, completing its archetypal alpha transportation utilizing Dogecoin (DOGE) successful November 2021, and launching the beta version for tens of thousands of users successful January 2022.

The absorption from galore Robinhood users connected societal media aft a seven-month hold seemed to beryllium mostly positive, though immoderate pointed retired that the wallet volition not enactment Ethereum-based services similar nonfungible tokens and ERC-20 tokens. According to the firm’s FAQ page, immoderate NFTs oregon unsupported tokens sent to a Robinhood Ethereum code whitethorn beryllium lost.

I had been screaming that #Robinhood wallet volition travel successful April followed by #Shib listing - measurement 1 is done @DelCrxpto pic.twitter.com/0zqeUKDUWw

— Krypto Wolf (#BURNLY #BURNSQUAD) (@krypto__wolf) April 6, 2022

Related: Robinhood partners with Chainalysis up of crypto wallet launch

Robinhood reported $48 cardinal worthy of transaction-based gross from crypto successful the 4th fourth of 2021, a astir 6% driblet compared to $51 million successful the 3rd quarter. In addition, the stock terms of Robinhood (HOOD) connected the Nasdaq has declined since the steadfast went nationalist successful July 2021, falling from an all-time precocious terms of $70.39 connected Aug. 4 to $12.17 astatine the clip of work — a driblet of much than 82%.