Robinhood Wallet is a self-custodial digital asset wallet and will be the company’s first app available internationally.
- Robinhood launches its cryptocurrency wallet.
- Available in beta for 10,000 users.
- Based on Polygon, it offers a gateway to Web3.
- It will be available worldwide in 2022.
The popular financial services platform, Robin Hoodunveiled its highly anticipated self-custody cryptocurrency wallet, which aims to help users navigate the Web3.
After announcing the product in May, the company announced on Tuesday that its new “Robinhood Wallet” is now available in beta for 10,000 users worldwide. Robin Hood announced the launch in a Tweeterin which he invited his subscribers to register on the waiting list to try the product.
A wallet worth waiting for. Beta testing is now live for 10,000 waitlist customers, with @0xPolygon as the first supported blockchain.
You could be next: https://t.co/qonXj80BEB pic.twitter.com/0aWvnyHk64
– Robinhood (@RobinhoodApp) September 27, 2022
The new wallet is independent of the brokerage application of Robin Hood and it will be the company’s first product available internationally, CTO and Chief Cryptocurrency Officer Johann Kerbrat revealed to Tech Crunch.
Based on polygonal and free of charge
Be independent, Robinhood Wallet It gives its users full control over their cryptocurrency funds, while requiring them to manage their own private keys. Based on polygonalthe wallet allows you to trade a handful of digital assets without network fees and provides broader access to decentralized applications (dApps).
As Kerbrat has moved to multiple news media, users will initially be able to trade between 25 and 30 tokens during beta. They will also be able to directly access dApps, including decentralized finance (DeFi) platforms like unitedwap, pendulum Yes kyber exchangeand metaverse games like Decentralized,
In its beta version, the application of portfolio focuses exclusively on polygonala layer two blockchain that connects to ethereal and makes the network faster and cheaper to use. Seong Seog Lee, Product Manager at Robin Hood Cryptoexplained to The block that the company has chosen polygonal for its low cost model.
As part of the integration, beta users will be able to purchase the token native polygonalMATIC, in the main exchange application of Robin Hood and transfer it to your Robinhood WalletAs indicated Tech Crunch. Although the plans don’t stop there, as the company is working to develop multi-channel support beyond polygonal in a future.
“We want to release this wallet to the world and see how users react.Lee commented Tech Crunch talk about multi-chain integration. He clarified that the company will closely monitor demand and that the push to integrate other chains could be driven by the possibility of a better and more liquid trading experience, as well as NFT use cases. .
Robin Hood advance in crypto services
The development is part of the company’s broader efforts to expand its business into digital currencies. Robin Hoodwhich offers retail services for investing in US stocks and other financial instruments, added for the first time Bitcoin in 2018 and has expanded its crypto offerings in recent years as demand grows.
“The launch of the beta version of Robin Hood Wallet marks an important milestone on our journey to Robin Hood the most reliable and easiest cryptocurrency platform for customers“, commented the CTO to The block.
Robin Hood schedule a full launch of its self-service wallet to over 1 million users on the waiting list after the end of the beta, at some point before the end of 2022.
The news comes days after the platform added support for the stablecoin USDC. Kebrat said to CoinDesk that the listing has been coordinated to coincide with the launch of the portfolio, to include an attractive offer of a less volatile asset. Beta users now have access to USDC trading, as well as other cryptos and dApps, but NFT integration won’t be available until its full launch at the end of the year.
Article by Hannah Estefanía Pérez / DailyBitcoin
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