Blockchain's Best Kept Secret

Robinhood Hopes to Launch Coinbase Custody for Bitcoin, GDP

Robinhood, a popular trading app, is reportedly in talks with Coinbase Custody to offer its users a secure and insured storage solution for their Bitcoin (BTC) and other digital assets. The move aims to provide a more comprehensive trading experience for Robinhood's over 13 million users.

According to sources, the partnership would allow Robinhood customers to store their BTC and other cryptocurrencies in a custodial solution provided by Coinbase, which is a leading digital asset custodian. This would enable users to buy, sell, and hold cryptocurrencies within the Robinhood app, while ensuring that their assets are securely stored and insured.

The move is seen as a significant step forward for Robinhood, which has been expanding its cryptocurrency offerings in recent months. The company launched its cryptocurrency trading feature in February, allowing users to buy and sell Bitcoin, Ethereum, and Litecoin. However, the lack of a custodial solution has limited the app's ability to offer a more comprehensive trading experience.

By partnering with Coinbase Custody, Robinhood hopes to address this limitation and provide its users with a more secure and reliable way to store their digital assets. Coinbase Custody is a regulated custodian that provides a secure and insured storage solution for digital assets, making it an attractive partner for Robinhood.

The partnership is also seen as a significant vote of confidence in the growing demand for cryptocurrency trading and storage solutions. As the cryptocurrency market continues to grow and mature, the need for secure and reliable storage solutions is becoming increasingly important.

The launch of Coinbase Custody on Robinhood is expected to be a major development in the cryptocurrency space, as it will provide a more comprehensive trading experience for users. The partnership is expected to be announced in the coming weeks, pending regulatory approval.