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Stock trading and investing app Robinhood has reportedly tested new features including a crypto wallet and cryptocurrency transfers. “The ability to deposit and withdraw cryptocurrencies is difficult due to the size and we want to ensure this is done correctly and orderly.”

Robinhood Adds Crypto Wallet and Transfer Features

Investing app Robinhood is “quietly” testing several new features, Bloomberg reported on Monday, describing:

Robinhood Markets Inc. is testing new crypto wallet and cryptocurrency transfer features for its app.

Evidence of the new features appeared in a beta version of Robinhood's iPhone app, the publication said, adding that the planned offerings were discovered by software developer Steve Moser.

Robinhood CEO Vlad Tenev previously said that adding a crypto wallet was a priority for the company's developers, but did not specify when the launch would occur. He said on the company's second quarter earnings call:

Our teams are working on that. The ability to deposit and withdraw cryptocurrencies is difficult due to scaling and we want to ensure this is done correctly and orderly.

Tenev noted that these features are particularly sought after by Dogecoin (DOGE) enthusiasts.

Cryptocurrency trading on Robinhood achieved Record values in the second quarter to over half of all transaction-based sales. Notably, the meme cryptocurrency Dogecoin accounted for 62% of crypto trading volume in the second quarter.

The new crypto features are being tested as part of an “alpha program,” according to information in the Robinhood app code. The publication further noted that the code also revealed the company’s plans for “spare-change investments and an early deposit option for checking accounts.”

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