The controversial trading platform Robinhood has reportedly disclosed details of its initiative for finalizing crypto deposits and withdrawals implementations. 

Specifically, the move is reportedly an effort from Robinhood to rebuild its image following the recent events affecting its reputation. 

At the moment, despite clients already having the power to conduct crypto selling and purchasing activities facilitated by the platform, direct access to the coins to initiate transfer to a different wallet is still a feature not available.

The development on implementing cryptocurrency transfers has reportedly already been underway, despite the timeline and details regarding its official go-live are yet to be disclosed. 

Robinhood further explained that the custodian of crypto deposits will reportedly be handled by their own wallets, and also remarked that the firm does not make investment in crypto, and will not utilize client’s digital assets for its own purpose.

At the moment, several digital coins are reportedly available for trading on Robinhood, nominally Bitcoin (BTC), Dogecoin (DOGE), Ether (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH) and Bitcoin SV (BSV). Facilitating features for transferring of said coins are still not confirmed to be released. 

On January 29th, Robinhood shut down all support features for instant fiat deposits, as a reaction to the concerns raised by social media, and have cloaked its initiative by claiming it a response to “extraordinary market conditions.”