Robinhood plans to announce a beta of its crypto wallet in January of next year, with HOOD falling to $ 17.

Cryptocurrency and Stock App Robinhood plans to announce a trial version of its cryptocurrency wallet from January 2022.

In a blog post on Wednesday, Robinhood announced that tens of thousands of current app marketing pending cryptocurrency wallet users will receive a beta starting in mid-January. The software industry claims more than 1.6 million people are waiting for the wallet, which supports the deposit and withdrawal of Bitcoin (BTC), ETHer (ETH), Dogecoin (DOGE) and other tokens.

The pro app has been testing the crypto wallet feature since its announcement in September and completed the first alpha test case using Dogecoin on November 22. According to Robinhood COO Christine Brown, the beta will focus on user security, providing change training, and clarifying network and GAS costs.

“What's more? # The testing phase of the wallet will begin in mid-January, allowing more users on the waitlist to enter beta.

We're focused on a 1: 1 collaboration with some low-end users and alpha level testing, and the beta testing phase will begin with thousands of users. "

- Christine (@christine_hall) November 29, 2021

“Some people say 2021 is the year cryptocurrencies become more important, but most people are still aware of this asset and how to explore blockchain,” Robinhood said. "With the launch of the Cryptocurrency Wallet, we are delighted to play a key role in welcoming investors to the cryptocurrency circle for the first time."

Robinhood's (HOOD) share price on the Nasdaq does not appear to have been affected by the recent announcement. The commodity first went public in July, falling more than 75% from its record high of $ 70.39 on August 4 to $ 17.03 at the time of the press release.