Trading platform Robinhood is launching a non-custodial, web3 cryptocurrency pockets. “Customers will be capable to maintain the keys for their very own crypto,” the corporate mentioned.
Robinhood Building Non-Custodial, Web3 Wallet
Popular buying and selling platform Robinhood introduced Tuesday that it’s “constructing a model new non-custodial, web3 pockets that may permit prospects to have whole management of their crypto.”
The announcement particulars:
This new, multichain, web3 pockets will launch as a standalone app … Customers will be capable to maintain the keys for their very own crypto.
In addition, prospects will be capable to “commerce and swap crypto with no community charges,” “earn yield utilizing their belongings,” retailer non-fungible tokens (NFTs), and hook up with NFT marketplaces, Robinhood defined.
Vlad Tenev, co-founder and CEO of Robinhood, commented: “At Robinhood, we consider that crypto is extra than simply an asset class … Our web3 pockets will make it simpler for everybody to carry their very own keys and expertise all of the alternatives that the open monetary system has to supply.”
The announcement additional notes that prospects can join Robinhood’s non-custodial pockets waitlist to get early entry to the corporate’s new product. The firm mentioned:
We’ll start inviting waitlist prospects to affix our Beta program later this summer time and make the product usually obtainable to all Robinhood prospects by the tip of the 12 months.
Last month, Robinhood rolled out its custodial crypto wallets to more than two million prospects.
With the upcoming non-custodial pockets launch, Robinhood will compete with the Nasdaq-listed cryptocurrency change Coinbase, which additionally provides a self-custodial pockets.
Coinbase CEO Brian Armstrong tweeted Monday that his firm’s non-custodial pockets is now “essentially the most downloaded cell self-custody pockets within the U.S.” He famous: “And you don’t should migrate something over to make use of it – the identical seed phrase can be utilized throughout a number of wallets.”
Robinhood not too long ago started its European enlargement by acquiring a regulated crypto agency based mostly within the U.Okay.
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