- Robinhood is working on a new feature to allow the sending of crypto as a gift between users.
- Users will also be able to retract the digital asset gift anytime before it is accepted.
- The new feature was discovered in hidden code in the beta version of Robinhood’s iPhone app.
Robinhood is reportedly working on a feature that will allow users to send cryptocurrencies to other users as a gift. The trading platform is working on a digital gift card feature that can be sent and accompanied by messages.
Robinhood to expand crypto service offerings
Developer Steve Moser discovered the unexpected code in the beta version of Robinhood’s iPhone app that the company is considering adding a gifting feature that will enable users to send cryptocurrencies to each other in the form of digital gift cards.
The code revealed that users would be able to use the new feature to send Bitcoin and other cryptocurrencies as digital gift cards, accompanied by messages up to 180 characters in length.
Users will be able to retract the cryptocurrency gift anytime before it has been accepted.
According to the report shared by Bloomberg, the feature is not yet available for use by Robinhood users at the time being. It is yet to be revealed when the company will enable the new functionality.
Previously, beta versions of Robinhood’s apps have disclosed new features, including support for cryptocurrency wallets.
Robinhood is increasingly expanding its cryptocurrency service offerings, as digital assets have become a significant source of revenue for the company in recent quarters.
While cryptocurrency trading revenue plunged in Q3, Vlad Tenev, CEO of Robinhood, remained optimistic for the company’s prospects in digital assets.
Tenev revealed that over one million users have joined the platform’s digital wallet waitlist and believe that the firm could become one of the most trusted platforms for crypto investors.
Robinhood expects its cryptocurrency wallet to be available for its users by early 2022.
The trading platform also recently revealed that it will use Chainalysis’ data tools to meet compliance requirements to keep accounts safe. The trading platform will utilize the Chainalysis KYT to highlight risky and illicit transactions in real-time.
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