Robinhood Launches New Crypto and NFT Wallet

Retail trading platform Robinhood is bringing a new non-custodial crypto and non-fungible token (NFT) wallet in its latest push to mark its presence in the digital asset space.

In a press release, the platform announced it has started developing a multichain Web 3.0 wallet that will give investors total control of their digital assets while granting access to decentralized web protocols.

With the wallet, traders can conveniently swap crypto assets without network fees, connect to NFT markets and store their own NFTs, and generate yield using their assets.

Speaking to CNBC recently, Robinhood CEO and co-founder Vlad Tenev explained:

“Our primary objective is to give customers a great product, an opportunity to not just trade through the centralized exchange of Robinhood, but also keep complete control and custody of their keys and help them access decentralized exchanges and swap coins.

Our focus is on just making sure that this is the way for our customers to access Web 3.0 and maintain self custody going forward.”

The waitlist for early access to the beta wallet is now open and is expected to be available sometime during the summer of 2022. Full roll-out of the final product is expected by the end of the year.