Robinhood sparks crypto wallet launch rumours

June 26, 2018
Richard Reed

US stock-trading app Robinhood has sparked rumours it is about to launch a crypto wallet after posting an advert for cryptocurrency software engineers.

More than four million US consumers already use Robinhood’s fee-free stocktrading app, and it has launched a Robinhood Crypto tool.

The company recently raised $363m to expand its fee-free crypto trading operation across the US.

The newly-spotted job ad says, “What has been created so far only scratches the surface of how Robinhood envisions cryptocurrencies to play a role in our user’s lives.

“The cryptocurrency team is responsible for pioneering how Robinhood integrates with the various blockchains and networks as we expand our features.”

According to CoinTelegraph, it goes on to say prospective candidates will be required to “build out new functionality… such as adding new currencies or providing wallet functionality”, as well as using blockchain for new features.

At the beginning of June, sources told Bloomberg that Robinhood had plans to obtain a US banking licence, with “constructive talks” continuing between the company and regulators.

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