Robinhood Considers Adding More Crypto Services

by in Cryptocurrency News

Vlad Tenev Robinhood

The CEO of the trading services provider Robinhood, Vlad Tenev talked about the company's plans regarding cryptocurrencies in a video published on Youtube. He answered the questions of the users.

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Tenev announced that the app has seen 6 million new clients. Now the team wants to invest a large amount to add more services and also hire many people. Along with this, there may be integrated some new coins on the network. The platform's compatible crypto wallet is under development.

Robinhood is going to release its IPO later this year. For that purpose, the firm hired a former Google exec Aparna Chennapragada, who was a member of Google's leading product, engineering, and design teams for 12 years.

The platform met criticism for halting purchasing in GameStop and several other "meme stocks" this January. Tenev mentioned that it may require a few more months to claw back from the situation.

Robinhood was found in 2013. In 2018 it launched Robinhood Crypto, which is licensed by the New York State Department of Financial Services. Presently, the company's valuation is around $40 B.