Robinhood Updates On Crypto Wallet

Christine Brown, COO and VP of Product Operations for Robinhood ($HOOD@US) Crypto, issued an update on the firm’s crypto strategy on Tuesday. While she covered many topics, she gave a significant update on the new crypto wallet and the listings it will provide. She said, “When it comes to our strategy of what we are going to list, the first thing is that we’re not going to talk about it. So I’m not going to break that news here, unfortunately.” She went on to say, “But I also think our strategy is a little bit different than a lot of other players out there who are just racing [to] list as many assets as possible right now.” During her talk, Brown said that the firm didn’t want to give up long-term gains for short-term profits. The company is focused on regulatory concerns and ensuring that the platform is working properly. Robinhood has also been beset by petitioners who want the new Shiba Inu token to be listed with Robinhood. Brown was supportive, saying, “one of my favorite things is seeing the community around these coins really engage with us.” Finally, Brown shared news about the new crypto wallet, noting that there is a waiting list of 1.6 million users, they have some alpha testers on the platform, and the firm is building its security protocols. While Robinhood stock fell over 6% in early trading, Brown did confirm that, “we are still on track for a Q1 generally availability, late Q1,” for the crypto wallet.