Web3 Wallet Beta for Robinhood is Now Available

10,000 iOS customers who signed up for the waitlist back in May will now have access to the self-custody, web3 wallet beta that Robinhood launched today. The standalone app, officially known as Robinhood Wallet, will support Polygon as its first blockchain network, give users complete control over their cryptocurrency, enable network-free crypto trading and crypto swapping, and provide seamless access to the decentralized web. Crypto in the Robinhood style.

Johann Kerbrat, Chief Technology Officer and General Manager of Robinhood Crypto, said, “Launching the Robinhood Wallet beta marks a significant step forward in our journey to make Robinhood the most trusted and simple crypto platform for customers.” “Robinhood Wallet removes some of the complexities of web3 to make crypto more accessible to everyone, just like we did with the stock market.”

The user-friendly, inexpensive standalone app known as Robinhood Wallet has the straightforward, approachable design that users have come to expect from Robinhood. Being the first blockchain network that Robinhood Wallet supports, we’re thrilled to work with Polygon.

We selected Polygon in order to give customers one of the best trading experiences possible because of its scalability, speed, affordable network fees, and robust developer ecosystem. Customers can now seamlessly buy Robinhood’s native MATIC token on the Robinhood app and transfer it over to their self-custody wallet thanks to Robinhood’s recent rollout of support for deposits and withdrawals on the Polygon PoS network.

Although Robinhood Wallet is initially only compatible with Polygon, it will eventually support a large number of blockchains.

Participating users can download the app and access the following features during the beta:

Use USDC as your primary fiat-representative token to fund your wallet.

Without paying network fees, exchange and trade cryptocurrencies.

Obtain crypto rewards.

Track and safely store your blockchain portfolio

To earn yield, connect to decentralized applications (dapps).

Although it is not currently a part of the beta program, viewing NFTs and connecting to NFT marketplace will be supported once Robinhood Wallet is made available to the general public.

On the global Robinhood Wallet waitlist, there are already more than 1 million people. Customers can sign up here if they haven’t already. When the product is made available to the general public later this year, we will let everyone on the waitlist know.

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