Robinhood CEO Vlad Teneff said the company is working to increase the volume of cryptocurrency trading.
In a conversation about the fire posted on the broker’s YouTube account Thursday, Tenev discussed plans to increase headcount and add additional pairs for cryptocurrency trading. Describing the current plans, Chief Robinhood noted:
“As much as I care about people on social media, me, the coding team and our software engineers. We’ll try to do that as soon as possible. And we’ll see. We can add some new coins along the way.”
In addition to expanding the directory of cryptocurrency trading, Tenev has also touched upon the possibility of creating a cryptocurrency wallet at Robinhood. However, Tenif said the company continued to exercise caution on this front and insisted that this feature must be thoroughly tested before rolling it out to users.
As Cointelegraph previously reported, Robinhood added 6 million new cryptocurrencies in the first two months of 2021, more than 15 times the average recorded in 2020.
There could be more favoritism with an expanded cryptocurrency catalog, and Tenif says Robinhood is already working to create the conditions necessary to deal with the increased traffic.
In addition to increasing the number of employees, Robinhood is also said to improve service availability and customer support infrastructure. In fact, cryptocurrency exchanges usually collapse during periods of peak market activity.
Regarding GameStop’s commercial dispute, Tenev admitted that the incident sparked bad publicity for the company, saying it could take several months to recover from the fallout.
According to President Robinhood, the brokerage firm is doing everything it can to set the record.
Robinhood’s cryptocurrency expansion plan comes right after the news that eToro – one of its competitors – is seeking a public listing on the Nasdaq exchange. The company has entered into a $ 10 billion merger agreement with SPAC Fintech V, which is expected to be completed in the second quarter of 2021.