Robinhood Debuts Web3 Crypto Wallet to 10K Customers — Beta Version Supports Polygon

The American fiscal services institution headquartered successful Menlo Park, California, Robinhood Markets, Inc., announced the motorboat of a caller non-custodial Web3 crypto wallet connected Tuesday and said the merchandise supports the Polygon blockchain network. The exertion is presently for iOS users lone and Robinhood is rolling retired the beta mentation of the Web3 wallet to 10,000 clients connected the company’s waitlist.

Robinhood Launches Beta Web3 Crypto Wallet to 10,000 Select Customers

During the past 12 months, Robinhood Markets has shown a beardown involvement successful gathering cryptocurrency products and services. At the extremity of January 2022, Robinhood started to roll out the beta mentation of its crypto wallet that supports bitcoin (BTC), dogecoin (DOGE), and ethereum (ETH). In April, Robinhood expanded the crypto wallet participants to 2 cardinal customers and successful mid-May, the fiscal services institution hinted astatine the non-custodial Web3 wallet release.

The beta mentation of the Web3 wallet initially volition enactment the Polygon (MATIC) network, a proof-of-stake (PoS) blockchain that’s compatible with Ethereum. Anything connected to the Polygon web similar third-party decentralized concern (defi) protocols and decentralized applications (dapps) volition enactment Robinhood’s Web3 wallet. Robinhood elaborate connected Tuesday that Polygon was chosen owed to its inexpensive web fees, positive “scalability, [and] speed.”

Moreover, Polygon won’t beryllium the Web3 wallet’s exclusive blockchain arsenic Robinhood said that eventually, the Web3 wallet volition beryllium a “multichain wallet.” “A wallet worthy the wait,” Robinhood said connected Tuesday. “Beta investigating is present unrecorded for 10K customers from the waitlist, with Polygon arsenic the archetypal blockchain supported.” Johann Kerbrat, the main exertion serviceman of Robinhood Crypto, explained that the Web3 wallet widens caller opportunities and accessibility. Kerbrat said:

Like we did with the banal market, Robinhood Wallet strips distant immoderate of the complexities of Web3 and defi to marque crypto much accessible to everyone.

While the wallet is simply a Web3 client, the merchandise doesn’t enactment non-fungible tokens (NFTs) astatine the moment. However, the Web3 wallet tin link to defi applications, entree liquidity pools, and enactment successful output farming schemes. While 10,000 Robinhood customers are capable to leverage the caller Web3 wallet, the fiscal services institution elaborate that 1 cardinal customers person registered for the waitlist.

“With this launch, Polygon [and] Robinhood are bringing millions of customers to onchain defi via debased state infrastructure,” Polygon’s authoritative Twitter relationship said connected Tuesday.

What bash you deliberation astir Robinhood Markets releasing the beta mentation of its Web3 non-custodial crypto wallet? Let america cognize what you deliberation astir this taxable successful the comments conception below.