Robinhood launches self-custody wallet

Cryptocurrency investment platform Robinhood announced the launch of a self-custody wallet on January 19th.

Robinhood has released Wallet. This is an iOS app that allows users to transfer and view cryptos and NFTs they own. The wallet, which has a waiting list of over 1 million people, is gradually roll out.

set to expand

Robinhood Wallet only supports Ethereum (ETH) and Polygon (MATIC) networks at launch, but will expand to include other blockchains in the future. Android support is also slated to launch later this year.

According to Robinhood CEO Johann Kerbrat’s description of the product, Robinhood Wallet is set to compete with the likes of MetaMask and Phantom.Carblat Said Decryption:

“This is more than just a wallet. Think of Robinhood Wallet as a ‘browser’ for Web3. ”

Kerbrat also added that Wallet is an independent standalone app that offers more advanced features such as connecting to dApps and NFT marketplaces, as well as complete self-management of assets.

The popularity of self-custody wallets is increasing throughout 2022. crypto slate According to December 2022 data, 15 million Bitcoin (BTC) will enter self-custody wallets through 2022, increasing the illiquid BTC supply to 78%.

It first appeared on CryptoSlate after Robinhood launched its self-custody wallet.

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