Robinhood currently has more than 1 million customers waiting to be added to its crypto wallet waitlist. This milestone was achieved just one month after the trading app first announced it.

According to Vlad Tenev, the CEO of the firm, there is a lot of demand from customers who want to do more with their cryptocurrency holdings than just trade.

Tenev made this announcement at the CNBC Disruptor 50 summit. He told Jimmy Cramer that the crypto wallet feature is set to give the app’s customers “more utility with the coins they have,” with more people are getting on the waitlist for this reason.

” The waitlist for crypto wallets is well over a billion people now ,” Tenev stated, highlighting the many benefits customers will enjoy once the wallet is revealed.

Some advantages Robinhood app customers can enjoy include crypto deposits, withdrawals, send-and-receive options and transfers to hardware wallets.

The Robinhood chief also stated that cryptocurrencies are “here for the long-term “. He noted that anyone can have a wallet, “regardless of where you are in the world” and use it to send crypto to others.

Robinhood revealed its intention to launch a cryptocurrency wallet in September to respond to customers’ increased demand. Customers can wait on the list to be first in line for access when the feature finally launches.

The app’s users have access to Bitcoin (BTC), Ethereum(ETH), Bitcoin Cash, (BCH), Litecoin [LTC], Bitcoin SV (BSV), Dogecoin [DOGE] and Ethereum Classic (ETC) at the moment.

While other digital assets are likely to be added in future, the Robinhood executive could not confirm whether the first would be the popular meme coin ShibaInu (SHIB).

According to him, any listing would have to keep in line with user safety and that meant any potential additions to the seven currently supported would have to go “through a stringent set of criteria,”

The digital wallet feature was set to launch in October with global support for 2022.