Robinhood Plans to Bolster Crypto Post-IPO

Retail investor-focused stock trading app Robinhood plans to bolster its crypto functionality.

Ahead of its upcoming IPO on July 29, Robinhood livestreamed its “roadshow” to give investors insight into the company’s growth plans. Referring to Robinhood’s crypto offerings during the livestream, CFO Jason Warnick said the company would be “making a lot of investments in things [they] know [their] customers want, such as wallets, lending and staking.”

In March, Robinhood CEO Vlad Tenev announced plans to implement a Robinhood crypto wallet. Currently, Robinhood users can buy cryptocurrency on the platform, but cannot transfer it off app or put it to use in any way. 

Potential launch dates for the Robinhood crypto wallet or other crypto implementations have not yet been announced.