The CEO of the American financial services company Robinhood Markets Inc., Vlad Tenev has recently revealed that the firm is looking forward to offering its customers increased cryptocurrency services such as a digital wallet. In the recent revelation, however, Tenev did not reveal when the firm is going to implement those new offerings. Vlad Tenev of Robinhood Reveals Plans of Expansion of Its Cryptocurrency Space Robinhood is reportedly planning to offer increased cryptocurrency options to around its 18 million users as revealed by the CEO of the firm, Vlad Tenev. In a recent public roadshow, Tenev laid an emphasis on the importance of digital assets and even declared that these assets are the base of the future of the firm. Witnessing the surging demands from the customers for digital wallets, Robinhood is planning to expand its cryptocurrency space. As per the goal of Robinhood: “We’ve been doing a lot of work behind the scenes to provide our crypto customers with the functionality that they’ve been asking for. We know you want wallets.” Addressing when the clients can expect the release of the much-awaited wallets, Vlad Tenev said that they can expect that at some point but did not reveal any particular timeline. Though he mentioned earlier that the firm is working on this to launch the service as soon as possible. Dogecoin Accounts for 34% of The Firm’s Trading Revenue The investing app is most likely to go public this Thursday and has recently made an announcement regarding the meme coin Dogecoin. At the start of this month, Robinhood reported a 4% surge in the revenue from crypto assets and over 30% of these earnings came from Dogecoin. Addressing the fact that Dogecoin’s decline in the future can impact the firm, the officials said: “If demand for transactions in Dogecoin declines and is not replaced by new demand for other cryptocurrencies available for trading on our platform, our business, financial condition, and results of operations could be adversely affected.”
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