Robinhood, a commission-free stock and cryptocurrency trading app, plans to develop a cryptocurrency wallet for users of its digital platform.
In the job advertisement, the company indicates that it is looking for a person to fill the position of crypto engineer who will be responsible for creating new functionality for their cryptocurrency product - adding new digital currencies to the wallet, as well as increasing the efficiency of its work.
The Californian financial company Menlo Park launched a free application for trading various assets about three years ago. The company began trading stocks last year, and on February 22 this year, the app added the ability to trade a limited list of cryptocurrencies. In January, Robinhood added 16 cryptocurrencies to its platform.
With Robinhood, you can invest in US stocks, ETFs, options and cryptocurrencies commission-free.
This strategy has challenged many crypto exchanges, which charge up to 4% trading commissions. The company generates revenue from margin lending and the sale of premium accounts.
According to Bloomberg, Robinhood plans to become a full-fledged consumer financial company in the next couple of years. The same article indicated that Robinhood is in talks to obtain a banking license, saying it is in “constructive” discussions with the US Office of the Comptroller of the Currency.
According to rttnews.com
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