The waitlist for Robinhood’s crypto wallet is now more than one million customers long, Robinhood CEO Vlad Tenev said at CNBC’s Disruptor 50 summit on Thursday.
- Robinhood first announced last month that it was planning to roll out a crypto wallet in early 2022 that would allow customers to trade, send and receive cryptocurrencies, as well as transfer them to hardware wallets.
- “Crypto is certainly here to stay as an asset class and the ease of use and the global nature of it, I think, has made it attractive to lots of people,” CNBC quoted Tenev as saying.
- Commissions from crypto trading accounted for 41% of Robinhood’s revenue in its second quarter, up from just 17% in the first quarter. Overall, Robinhood has said that more than 60% of its customer traded cryptocurrencies in the second quarter.
- Robinhood is slated to report its third quarter earnings report on Tuesday, Oct. 26.