Robinhood Debuts Non-custodial Web3 Wallet

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Robinhood Debuts Non-custodial Web3 Wallet

Robinhood has started beta testing of its non-custodial Web3 wallet among 10,000 iOS users, who joined the waitlist in May, wrote in a tweet Johann Kerbrat, Crypto General Manager at Robinhood.

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The new wallet dubbed “Robinhood Wallet” will first support Ethereum’s sidechain called Polygon due to its gasless swaps and “more security for customers,” Kerbrat said. He added:

“Our wallet strips away complexities of web3 and DeFi to make crypto more accessible to everyone. It’s a simple and intuitive standalone self-custody app that enables customers to have full control over their keys and coins.”

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Kerbrat went on to say that as part of the beta, participating customers will be able not only to trade and swap crypto without network fees, but also earn crypto rewards and connect to decentralized applications. Robinhood says its wallet will eventually transform into a multichain one that supports a wide number of blockchains.

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