The move reduces barriers to Web3-entry by offering access to the world’s most notorious cryptocurrency and memecoin.
In a shift towards mass adoption, leading US trading platform Robinhood has expanded its crypto services to include support for Bitcoin (BTC) and Dogecoin (DOGE), as well as in-app Ethereum (ETH) swaps.
With these two new additions, the Robinhood Wallet now allows users to own, send, and receive crypto on Arbitrum, Bitcoin, Ethereum, Dogecoin, Optimism, and Polygon networks, as well as swap crypto on Ethereum and Polygon (all whilst connecting to a ‘wide range of decentralised applications (dApps)’.
However- in true Web3 roll-out fashion- the addition of Ethereum swaps will only be offered to a select group of users to begin with, who’ll have over 200 Ethereum-built tokens to make swaps between. After a successful trial period, the feature will then become available to all users.
Robinhood launched its multi-chain, self-custody crypto wallet at the beginning of the year. Through continually improving the platform by adding features such as a Web3/dApp browser and a fiat ramp, the wallet has reportedly attracted hundreds of thousands of new users from across 140 countries.
Undoubtedly, the Robinhood Wallet’s next move towards mass adoption will be its added support for Android devices, as it currently only operates on iOS devices.
Although (most likely) already in the pipeline, the bullish additions also illustrate Robinhood’s seemingly unfazed approach towards the ongoing bear market, as the innovations fly in the face of its 18% reduction in crypto trading revenue in Q2 2023.
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This article is intended for educational purposes and is not financial advice
