Robinhood Wallet, a popular self-custody and multi-chain Web3 wallet, has introduced new features to meet the growing demands of its user base. The wallet has recently added support for Bitcoin (BTC) and Dogecoin (DOGE), allowing users to deposit, send, and receive these cryptocurrencies.
In addition, the platform has enabled token swaps on the Ethereum (ETH) network, granting selected users access to over 200 tokens for swapping. The introduction of support for Bitcoin and Dogecoin aims to provide users with more options within the wallet. Since its public launch six months ago, Robinhood Wallet has gained global adoption, attracting hundreds of users from over 140 countries.
Reports indicate that the recent deployment of Ethereum token swaps on the Robinhood Wallet app will facilitate user participation in decentralized finance (DeFi) without the need to hold Ethereum in their wallets. Instead, network fees will be automatically deducted from the tokens the users already own, streamlining the swapping process and reducing entry barriers.
Johann Kerbrat, the CEO of Robinhood Crypto, highlighted the company’s commitment to enhancing the DeFi experience and expanding support for various networks and tokens. According to Kerbrat, the user-friendly design and robust features of Robinhood Wallet aim to bring Web3 technology to a broader audience.
The current offerings of Robinhood Wallet include support for networks such as Arbitrum (ARB), Bitcoin, Ethereum, Dogecoin, Optimism (OP), and Polygon (MATIC). The wallet also facilitates seamless cryptocurrency swaps on the Ethereum and Polygon networks, enabling users to connect with various decentralized applications (dapps).
By giving users full control over their assets, Robinhood Wallet ensures that only users possess and maintain the private keys for their cryptocurrencies. The announcement on August 30th revealed that Robinhood Wallet aims to continue expanding its network support. It has already added Polygon, Arbitrum, and Optimism, with plans to further extend access to other Layer 2 chains based on user demand.
To enhance accessibility for users in the United States, Robinhood Wallet now offers regulatory-compliant support through Robinhood Connect. This feature allows eligible users to purchase or transfer cryptocurrencies directly within the wallet.