Robinhood Markets said on Wednesday that eligible clients will be able to begin testing cryptocurrency wallets in October this year. The access will be rolled out gradually as the company will get enough feedback on the new service. According to Reuters, the full launch is expected in early 2022.
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The Menlo Park-based brokerage says the wallets support ID verification, multi-factor authentication, and email/phone verification.
"We are excited to make crypto more accessible by making investing simpler, more straightforward, and low cost –– just as we have done for equities," an announcement reads.
Robinhood expands its crypto-related services as its European competitor — Revolut — is about to open US customers commission-free stock trading. The company planned to officially announce that it has received a US broker-dealer license on Tuesday. However, no such announcement has been published so far.
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