As of late, there has been much speculation surrounding the popular investing app, Robinhood, and whether or not they are working on a Bitcoin wallet. While the company has yet to make any official announcements, there are a few key pieces of evidence that suggest they may be venturing into the cryptocurrency space.
In December of 2017, Robinhood added two new members to their team with expertise in cryptocurrency and blockchain technology. This was followed by a job listing in January of 2018 for a Senior Software Engineer with experience in building cryptocurrency wallets.
Then, in February of 2018, Robinhood received a Series B funding round led by Google Ventures, which included investments from other major firms such as Andreessen Horowitz, Sequoia Capital, and DST Global. This $363 million investment brought the company’s total valuation to $5.
While all of this is certainly circumstantial evidence, it does suggest that Robinhood may be working on some sort of cryptocurrency offering behind the scenes. Only time will tell if this comes to fruition, but it would certainly be a major development in the world of crypto if it does.