Robinhood Said To Be Working On Letting Users Send Cryptos Like Bitcoin, Dogecoin To Others Via Digital Gift Cards

Retail brokerage platform Robinhood Markets Inc. HOOD is working on adding a new feature that would enable users to send cryptocurrencies such as Bitcoin BTC/USD and Dogecoin DOGE/USD to other users via digital gift cards, Bloomberg reported Monday.

What Happened: A hidden code discovered in a beta version of Robinhood’s iPhone app indicates that the digital gift cards can be accompanied by messages up to 180 characters in length, as per the report.

The cryptocurrency gift can reportedly be retracted by the sender any time before it is accepted by the recipient. The code was found by developer Steve Moser and shared with Bloomberg.

See Also: How To Buy Dogecoin (DOGE)

Why It Matters: The rise of interest in the cryptocurrency markets has led to many stock investing platforms offering cryptocurrencies to trade.

Robinhood currently supports buying and selling for Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Dogecoin and Litecoin.

The company could be looking into listing Shiba Inu SHIB/USD as early as January 2022, it was reported last week, citing a social media post.

The brokerage platform has hinted at adding cryptocurrency wallets for some time and has been testing out several new features.

It was reported last month that Robinhood successfully tested the transfer of Dogecoin to an external wallet for the first time.

Price Action: Robinhood Markets shares closed 2.1% lower in Monday’s regular trading session at $19.70, but rose 0.1% in the after-hours session to $19.72.

Bitcoin is down almost 3.8% during the past 24 hours, trading at $47,100.03 at press time. Dogecoin is down 3.4% over the 24-hour period to $0.1598.

Read Next: Is Dogecoin Playing Dead? Here's What You Need To Know As It Slides Lower Alongside Ethereum And Litecoin