Robinhood Deploys Beta Crypto Wallets Allowing Select Customers to Transfer Off Platform

Robinhood said it would finalize the send and receive flows, add QR functionality and add block explorer support in the future

article-image

Source: Shutterstock

share

key takeaways

  • Robinhood is letting 1,000 customers test the Beta version of its crypto WenWallets
  • The move allows Robinhood traders to send and receive to other crypto wallets gaining access to the wider blockchain and crypto community

Stock trading platform Robinhood has rolled out the beta version of its crypto wallet to 1,000 customers, allowing them to send and receive their digital assets off the platform to other crypto wallets for the first time.

By March, the company said it was aiming to extend its WenWallets to a further 10,000 customers before enabling access to the rest of the 1 million users currently on a waiting list, according to an announcement on Thursday.

“Beta testers will help us test core functionality and provide critical feedback to inform the final version of the product,” said Robinhood.

The wallet’s current iteration allows users to send and receive their crypto between the Robinhood platform to external crypto wallets, a method that has been restricted in the past.

Previously, traders could only buy and sell crypto assets within the app and transfers off the platform were restricted. The move will allow Robinhood traders to gain access to the wider blockchain and crypto community.

Over the course of the Beta testing phase, Robinhood said it would finalize the send and receive flows, add QR functionality, improve the transaction history interface and add block explorer support.

The ability to calculate the dollar value of crypto for the purpose of sending and receiving will also be added while a daily limit of $2,999 and ten transactions are being enforced during its current phase.

That amount is just below the $3,000 threshold that triggers record keeping requirements in the US for funds transfers under the Bank Secrecy Act.

“We’ve built world-class security integrations to monitor all transactions, ensuring that customers are able to both safely invest and transfer their crypto,” said Robinhood.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Content Delivery Networks (CDNs) represent low-hanging fruit in a massive market ripe for Web3-driven disruption. The global CDN market was valued at ~$28B in 2024, and is projected to surpass $140B by 2034, (18.75% CAGR) underscoring the immense demand for efficient content delivery.

article-image

As Satoshi-era wallets saw over $8 billion worth of BTC on the move, Congress is gearing up for “Crypto Week”

article-image

Bitcoin’s runaway success was partly driven by Slashdot

article-image

Blockworks Research data shows that VC spending is back on the rise after a slow May

article-image

After rejecting a bid from the AI cloud-computing startup last year, Core Scientific agreed to be acquired in a deal expected to close by Q4 2025

article-image

Sponsored

Plume’s collaboration with TRON will unlock cross-chain RWA yield for one of the world’s largest blockchain ecosystems

article-image

Who needs gold when you have taxes?