Over the past year, Robinhood has gradually shifted away from its initial “walled garden” approach to cryptocurrency.
According to the no-fee trading platform Robinhood, the Web3 beta wallet has become accessible, allowing users to swap assets on its non-custodial wallet (HOOD).
A wallet worth the wait. Beta testing is now live for 10K customers from the waitlist, with @0xPolygon as the first blockchain supported.
You could be next: https://t.co/qonXj80BEB pic.twitter.com/0aWvnyHk64
— Robinhood (@RobinhoodApp) September 27, 2022
The first 10,000 users who signed up for the testing period in May before it became accessible to the wider public will now be able to access the Robinhood Wallet, a wallet built on Polygon.
The wallet would enable users to trade over 20 cryptocurrencies offered by decentralised exchange (DEX) aggregator 0x without any fees, according to Chief Technology Office Johann Kerbrat.
Additionally, the wallet will enable users to link to dapps and earn a yield on assets.
Over the past year, Robinhood has consistently improved its cryptocurrency offerings while stepping away from its initial “walled garden” approach.
It began the queue for the Web3 wallet’s test in May, a month after distributing its first bitcoin wallet to two million customers.
Prior to the wallet’s beta release, traders were able to purchase USDC through Robinhood last week.
The listing was scheduled to coincide with the wallet’s debut in order to aid in bringing on new users, said Kebrat.
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