Robinhood To Launch A Web3 Crypto Wallet App

By Amit Chowdhry ● May 18, 2022
  • Robinhood Markets Inc (NASDAQ: HOOD) is planning to launch its own noncustodial wallet. These are the details.

Robinhood Markets Inc (NASDAQ: HOOD) is planning to launch its own noncustodial wallet to work with Web3 technologies so that customers will have total control of their crypto. This new product will enable customers access to the decentralized web and a number of crypto opportunities.

Robinhood’s wallet platform will be multichain and will run as a standalone app. The app will have a design that is similar to the main Robinhood app.

Users will have the keys for their own crypto and they will get dapps for trading and swapping crypto without network fees. Plus they will be able to store NFTs and connect to NFT makers. Plus users will be able to earn yield with their assets through the platform. Below is a demo of how it works:

KEY QUOTE:

“At Robinhood, we believe that crypto is more than just an asset class. By offering the same low cost and great design that people have come to expect from Robinhood, our Web3 wallet will make it easier for everyone to hold their own keys and experience all the opportunities that the open financial system has to offer.”

— Vlad Tenev, co-founder and CEO of Robinhood