Trading giant Robinhood allows transfers for newly listed challenger Ethereum (ETH)

Customers of trading giant Robinhood can now make external transfers from Ethereum (ETH) competitor Avalanche (AVAX).

Robinhood Prime blacksmith Crypto transfers in and out of its platform in July, adding trading support for AVAX and Stellar (XLM), its XRP rival, last month and unlocking transfers to Avalanche on Thursday.

AVAX is trading at $17.31 at the time of writing. The 17th largest crypto asset by market cap is down 0.46% in the past 24 hours and more than 2% in the past week. It’s also still down more than 88% from the all-time high of around $145 it hit in November 2021.

Robinhood has too provided an update on the rollout of its cryptocurrency wallet, noting that the wallets should still be available to customers by the end of the year. The company says beta testing will begin this month.

The Californian company opened a waiting list for beta testers in May after announcing that it was launching a multi-chain, custodial-free cryptocurrency wallet that will allow users to trade cryptocurrency, access decentralized applications (DApps) to run yield farming . and to store non-fungible tokens (NFTs), among other functions.

Robinhood CEO Vladimir Tenev reported in August that the number of people seeking early access to the retail platform’s Web3 wallet had already surpassed one million.

Robinhood has had a tough year, with 9% of employees in April and 23% in August falling.

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