Robinhood discusses the release and listing strategy of crypto wallets as a petition to Shiba Inu’s over 526K signers – Bitcoin News
The Chief Operating Officer (COO) of Robinhood Crypto provided the latest information about the company’s upcoming cryptocurrency wallet. The executive also discussed Robinhood’s listing strategy in response to the issue of whether the platform will list shiba inu (SHIB) cryptocurrency.
The COO of Robinhood Crypto discusses the listing strategy, as SHIB’s listing application has gained more supporters
Christine Brown, chief operating officer and vice president of product operations at Robinhood Crypto, spoke about her company’s encryption strategy at a conference hosted by Yahoo Finance and Decrypt on Tuesday. She also provided the latest news about Robinhood’s upcoming crypto wallet.
In response to a question about whether Robinhood will list shiba inu (SHIB) and the considerations for adding meme cryptocurrency, Robinhood Crypto COO pointed out: “When it comes to the strategy of what we are going to list, the first thing is We are not going to talk about it. So, unfortunately, I will not disclose this news here.” She elaborated:
But I also think that our strategy is slightly different from many other players who are vying for as many assets as possible.
“We believe that for our users, the short-term gains we may receive are not worthy of long-term trade-offs,” she clarified. “We want to make sure that we are working well and evaluating everything from a regulatory perspective. We are a safety-first company, so we will do this.”
Many shiba inu encryption supporters have been asking Robinhood, “When is SHIB?” petition On Change.org, the trading platform is urged to list that the meme cryptocurrency has received more than 526K signatures at the time of writing.
When commenting that Robinhood specifically listed the prospects of SHIB, Brown thought:
One of my favorite things is seeing the community around these tokens really interact with us and really let us know what they want.
Crypto wallet release, third quarter earnings and crypto investment strategy
Brown also shared something about Upcoming crypto wallet The launch of Robinhood was recently announced. Robinhood’s crypto wallet will allow its users to move supported cryptocurrencies into and out of their brokerage accounts. The chief operating officer noticed that it had been “a few weeks” since the announcement, and he revealed: “We are currently waiting on the waiting list of 1.6 million users of this product.”
She elaborated: “We are actively conducting alpha testing, so we do have some users joining and they can actually access the product now. But our progress is slow because we are a safety-first company. We hope The built function takes into account the safety of our users and what they will do.”
The chief operating officer shared some details of the company’s behind-the-scenes work for the wallet in the past few months. “What we are doing, we are building MFA [multifactor authentication] Within the app, so we know… you are actually initiating the transfer. We are adding checks on transactions to understand the wallets they will be using and make sure they are safe or low-risk. This is one of the reasons why we need a longer time to launch it. Nevertheless, Brown confirmed:
We are still expected to be fully listed at the end of the first quarter.
Robinhood recently reported on its Third quarter earnings The results showed that transaction-based cryptocurrency trading revenue was 51 million U.S. dollars, compared with 233 million U.S. dollars in the second quarter. Approximately 40% of its revenue based on cryptocurrency transactions can be attributed to Dogecoin (DOGE) transactions.
Although the platform’s revenue based on crypto transactions declined in the third quarter, Brown pointed out that “we still grew by 800% year-on-year” and emphasized that “the retail market is cyclical, so we will see an increase. Looking down, we should be prepared for this.”
She also commented on the views of some crypto skeptics who claim that crypto investment is either “crazy or stupid.” Brown pointed out:
57% of Americans, the majority of Americans, have a long-term outlook on cryptocurrencies. It’s not that people just go in and gamble and want to see rapid popularity.
Do you think Robinhood will list SHIB? Let us know in the comments section below.
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