Robinhood CEO Vlad Tenev has mentioned the corporate is working in the direction of rising its cryptocurrency buying and selling service.
In a fireplace chat posted on the dealer’s YouTube account on Thursday, Tenev mentioned plans to upscale its workforce and add extra crypto buying and selling pairs. Detailing the continued plans, the Robinhood chief remarked:
“As a lot as individuals are bugging me on that on social media, I am bugging our crypto workforce and our software program engineers. We’ll try to get that performed as quick as attainable. And we’ll see. We’d add some new cash alongside the way in which.”
Along with rising its crypto buying and selling catalog, Tenev additionally touched on the opportunity of a Robinhood cryptocurrency pockets. Nonetheless, Tenev mentioned that the agency was continuing with warning on that entrance, insisting that such a function would have to be examined extensively earlier than rolling it out to customers.
As beforehand reported by Cointelegraph, Robinhood added 6 million new crypto prospects within the first two months of 2021 — greater than 15 instances the typical determine recorded in 2020.
With an expanded crypto buying and selling catalog might come much more patronage and Tenev says Robinhood is already working in the direction of placing the required modalities in place to deal with the elevated site visitors.
Other than rising its employees dimension, Robinhood can be reportedly upscaling its service availability and buyer assist infrastructure. Certainly, crypto exchanges have routinely suffered outages in periods of peak market exercise.
Relating to the GameStop buying and selling controversy, Tenev acknowledged the dangerous publicity for the corporate occasioned by the incident saying Robinhood might require just a few months to recuperate from the fallout.
In keeping with the Robinhood CEO, the brokerage agency is doing its half to set the document straight.
Robinhood’s crypto enlargement plan comes on the heels of the information that eToro — one among its rivals — is pursuing a public itemizing on the Nasdaq. The agency has reached an settlement with SPAC outfit Fintech V in the direction of a $10 billion merger anticipated to be concluded in Q2 2021.