Robinhood trials crypto wallet; Revolut to offer U.S. stock trading

Robinhood is reportedly testing cryptocurrency wallet and transfer features. Meanwhile, the company will face some new competition as Revolut received U.S. regulatory approval to begin offering commission-free stock trading.

According to Bloomberg, the crypto wallet, which is currently in beta testing for iOS users, allows users to store all digital currencies protected by private keys. Users can send and receive things like Bitcoin without converting them to fiat currency.
Robinhood revealed that 63% of its accounts had made crypto trades in the past 12 months, with the majority of that involving meme currency Dogecoin.
Separately, Revolut has been granted a broker-dealer license, meaning it can challenge the likes of Robinhood in the massively popular retail trading space, according to CNBC.
Revolut, the UK’s most valuable private fintech company with a valuation of $33 billion, has set its sights on the US market, launching last year.
CNBC said the U.S. stock trading feature will be launched in the coming months, allowing customers to buy ETFs and companies listed on the New York Stock Exchange and Nasdaq and subsequently make fractional trades.