Robinhood, American financial services company for commission-free trading of stocks and exchange-traded funds, has launched its own cryptocurrency wallet for two million waitlisted users. They will now be able to send and receive cryptocurrency currently available on Robinhood from a branded wallet.
The service is available in the United States, but users in Hawaii, Nevada and New York will not be able to access the wallet due to local restrictions. The company also promised integration with the Bitcoin Lightning Network, though it did not provide a specific date of its implementation.
The wallet was initially launched as a limited test last year, and the first 1,000 users were able to try it in January 2022.
Robinhood claims that its wallet gives customers full access to their cryptocurrency and the ability to participate in the crypto ecosystem, such as leaving tips on social media, paying for NFTs, and more with no withdrawal fees.