.RobinhoodApp has made the beta version of its crypto wallets available to over 250,000 users
Robinhood users have been clamoring for the introduction of external crypto wallets for years. The company would face constant criticism for essentially offering their customers"I-owe-you" notes instead of actual cryptocurrencies., Dogecoin co-founder Billy Markus recently opined that the introduction of external crypto wallets would allow bolstering the cryptocurrency's utility since it would no longer be viewed as merely a tool for speculation by Robinhood users.
The stock of the commission-free trading app remains down 85% from its record peak that was achieved in early August, shortly after the company went public.Robinhood experienced a 6% drop in cryptocurrency revenue as traders soured on Dogecoin, the meme cryptocurrency that became the darling of Robinhood traders last year.
The struggling trading platform has so far refrained from expanding its modest cryptocurrency line-up despite a plethora of requests to list joke cryptocurrency Shiba Inu.
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