THELOGICALINDIAN - The new wallet will be abstracted from the companys recentlyreleased careful wallet
Retail trading account Robinhood has appear that it will absolution a non-custodial cryptocurrency wallet.
Robinhood Will Offer Web3 Wallet
Robinhood’s abutting wallet will accord users added hands-on ascendancy over their crypto than its accepted offering.
Robinhood CEO Vlad Tenev appear the account at the Permissionless DeFi appointment today. It was additionally abundant in a press release. That advertisement indicates that Robinhood is “building a cast new non-custodial, Web3 wallet” that will accord users added absolute ascendancy over their crypto and admission to the decentralized web.
More specifically, it will acquiesce users to barter and admission cryptocurrency, abundance NFTs, and acquire crop on crypto holdings. It will additionally action the “same simple and attainable design” as Robinhood’s added services. It has additionally been reported that the account will awning user gas fees.
The wallet will additionally accommodate multi-chain support—presumably for the 11 crypto assets that Robinhood supports.
Robinhood Slowly Rolled Out Crypto Support
Robinhood has accurate crypto trading back 2024, but it did not initially acquiesce users to abjure crypto from the account unless they adapted it to a budgetary balance.
Robinhood appear its aboriginal crypto wallet aftermost month; 2 actor users abutting the wallet’s waitlist back it was opened several months earlier. That aboriginal wallet was custodial, acceptation that Robinhood ultimately had ascendancy of user funds. It about represented a footfall advanced as it accustomed users to abjure crypto directly.
The new wallet will analogously be waitlisted afore its launch. Robinhood aims to activate rolling out the wallet by the end of the summer and will accomplish it accessible globally by the end of 2022.
Offering two abstracted wallets is aberrant but not exceptional of: the crypto barter Coinbase, for example, offers a non-custodial wallet in accession to its careful or on-exchange crypto wallet.
Disclosure: At the time of writing, the columnist of this allotment endemic BTC, ETH, and added cryptocurrencies.
