(Reuters) – On-line dealer Robinhood, which was criticized by clients after pausing buying and selling in some sizzling shares on Thursday, stated it had briefly disabled a function on its app that enables customers to purchase crypto securities immediately.
“On account of extraordinary market circumstances, we’ve briefly turned off Instantaneous shopping for energy for crypto. Prospects can nonetheless use settled funds to purchase crypto. We’ll preserve monitoring market circumstances and speaking with our clients,” a Robinhood spokeswoman stated on Friday.
By way of the “Instantaneous Shopping for” function on Robinhood, clients have on the spot entry to funds from financial institution deposits and proceeds from inventory transactions. Instantaneous Shopping for is a paid function that enables customers to immediately settle transactions.
Reporting by Anirban Sen in Bengaluru; Modifying by Saumyadeb Chakrabarty