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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.
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.
STORY CONTINUES BELOW
Nelson Wang
Nelson edits features and opinion stories and was previously CoinDesk’s U.S. News Editor for the East Coast. He has also been an editor at Unchained and DL News, and prior to working at CoinDesk, he was the technology stocks editor and consumer stocks editor at TheStreet. He has also held editing positions at Yahoo.com and Condé Nast Portfolio’s website, and was the content director for aMedia, an Asian American media company. Nelson grew up on Long Island, New York and went to Harvard College, earning a degree in Social Studies. He holds BTC, ETH and SOL above CoinDesk’s disclosure threshold of $1,000.
