Report: Robinhood Is Working on a Crypto Gifting Feature

Russia Registers Atomyze
Russia Registers Atomyze

According to a Bloomberg report, a code was discovered in a beta version of Robinhood’s iPhone app. The code enables developers to add a feature that allows users to send cryptocurrencies to each other via digital gift cards.

  • 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.