Robinhood creates a non-custodial wallet
Online broker Robinhood announced the creation of a non-custodial Web3 wallet that will give users full control over their cryptocurrency and direct access to DeFi and NFT segments.
The new multichain application will be standalone from the company’s existing platform.
According to the announcement, customers will be able to hold private keys and access dapps for:
– trading and exchanging without network commissions;
– storing NFTs and connecting to marketplaces;
– generate revenue through their crypto-assets.
Robinhood has opened a waiting list for early access to the product.
“We believe cryptocurrencies are more than just an asset class. Offering those low costs and great design that people have come to expect from Robinhood, our Web3 Wallet will allow us to appreciate the possibilities of an open financial system,” said Robinhood CEO Vlad Tenev.
The company expects to start beta-testing this application in summer and fully launch the product by the end of 2022.
As a reminder, Robinhood now supports Grayscale cryptocurrency trusts.