Robinhood CEO Vlad Tenev said at CNBC’s Disruptor 50 summit on Thursday that Robinhood’s cryptocurrency wallet’s waiting list now has more than 1 million customers.
According to Robinhood’s CEO’s speech at the Disruptor 50 summit, the encrypted wallet function is in great demand among customers of this popular zero-commission trading app.
Robinhood announced last month that it plans to launch a cryptocurrency wallet in early 2022, allowing customers to trade, send and receive cryptocurrencies, and transfer them to hardware wallets.
“Cryptocurrency will definitely continue to exist as an asset class, and I think its ease of use and global nature make it attractive to many people,” CNBC quoted Tenev as saying.
Commissions from cryptocurrency trading accounted for 41% of Robinhood’s revenue in the second quarter, up from 17% in the first quarter. Overall, Robinhood stated that more than 60% of its customers conducted cryptocurrency transactions in the second quarter.
Robinhood is scheduled to release its third-quarter earnings report on Tuesday, October 26.