Robinhood CEO Vladimir Tenev announced on Twitter that the company’s upcoming Web3 cryptocurrency wallet now has a waitlist of over 1 million people. According to the Bulgarian-American entrepreneur, the wallet will enter beta testing next week.
Big ? update! We hit over 1 million sign-ups on the waitlist. Beta testing will commence in the coming weeks ? https://t.co/J6s9nm6R3K
— VLAD (@vladtenev) August 10, 2022
Back in May, Robinhood announced its non-custodial Web3 wallet, which is designed for traders in the decentralized finance ecosystem. The announcement was accompanied by a hilarious promotional video depicting an ape entering a full-sized green portal.
The firm says that customers could bypass the waitlist by welcoming more people to join. Robinhood announced in early April that its wallet was now available to all eligible users on the waitlist. Users could simply withdraw cryptocurrency from their brokerage account using the new feature. The original crypto wallet has several limitations, including the fact that it does not support NFTs or any of the cryptocurrencies that the company has yet to list.
Tokens sent to a Robinhood address will most likely be lost forever, according to the company. Meanwhile, the new Web3 wallet includes popular features like yield farming, staking, and NFT support. It is intended for advanced users only. The wallet’s rollout is expected to be completed by the end of the year.
Shiba Inu (SHIB), Chainlink (LINK), Stellar (XLM), Avalanche (AVAX), and other coins have recently been added to the popular trading app’s offering. This is a big deviation from its previously conservative listing strategy.
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