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Robinhood Working on New Crypto Gifting Feature: Report
The feature would allow users to send crypto to other users as a gift, according to Bloomberg.
By Nelson Wang
Updated May 11, 2023, 4:06 p.m. Published Dec 13, 2021, 11:11 p.m.
Code discovered in a beta version of Robinhood’s iPhone app reveals the popular no-fee trading platform is considering adding a feature that allows users to send cryptocurrency to each other via digital gift cards, according to a Bloomberg report.
- The cards can be accompanied by messages up to 180 characters long, and the money can be retracted anytime before it is accepted by the recipient, according to Bloomberg.
- A Robinhood spokesperson declined to comment to CoinDesk.
- The code was found in a beta version of the app by developer Steve Moser, who shared it with Bloomberg.
- In the past, beta versions of Robinhood’s apps have revealed features such as support for crypto wallets, Bloomberg wrote.
- Commissions from crypto trading have become an increasingly significant source of revenue for Robinhood in recent quarters.
- On Monday, crypto tracing firm Chainalysis announced it will provide data and compliance tools to Robinhood’s online crypto trading service, Robinhood Crypto.
UPDATE (Dec. 14, 0:23 UTC): Adds Robinhood response.
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