Robinhood wants to make it possible for its users to withdraw their crypto to external wallets.
Robinhood to launch a crypto deposit and withdrawal feature
Fintech platform Robinhood is currently working on a new feature that would allow its users to withdraw their cryptocurrencies to external wallets. This could see Robinhood roll out the feature at the same time as PayPal.
According to Bloomberg, the new feature would allow Robinhood users to send and receive cryptocurrencies like BTC, ETH and others via the mobile app. Bloomberg claims to have come across screenshots of a withdrawal interface in a beta version of the wallet feature in Robinhood’s IOS app.
At the moment, the details for this feature are scanty. However, Bloomberg said there is a waitlist where users will be able to sign up for the new cryptocurrency wallet. If launched, Robinhood users will be able to send and receive cryptocurrencies with ease from other third-party wallets.
PayPal wants to launch a similar feature
Fintech companies are working hard to provide cryptocurrency services to their clients. In May, we reported that PayPal is working on a similar feature to allow its users to withdraw their cryptos to external wallets.
Crypto users on PayPal and Robinhood can only buy, trade and sell the cryptocurrencies at the moment. However, the launch of such services will allow them to send and receive the digital currencies from third-party wallets.