Robinhood is preparing to launch a MetaMask-like DeFi wallet.
Robinhood, which enables stock and crypto trading, is now preparing to launch a new wallet application that will allow users to access NFT marketplaces, decentralized exchanges. The wallet in question will work similarly to MetaMask, which will be separate from the Robinhood platform. With this wallet application, the company aims to make web 3.0 facilities easier for new users. Vlad Tenev, Robinhood co-founder and CEO, said in a statement on the subject:
“At Robinhood, we believe that crypto is more than just an asset class. DeFi has the potential to be the operating system that powers the future of financial services, and we want to help people experience all the possibilities these revolutionary technologies have.”
The company also plans to cover gas fees, which can be extremely costly at times.
Although it is not yet clear when the product will be released, the company plans to offer the application to all its users by the end of the year.
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