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Jafrin Ahmed
May 18, 2022
by Jafrin Ahmed

Robinhood to Launch Non-Custodial Wallet With NFT Support

Robinhood cryptocurrency wallet NFT

Table of contents

  1. Robinhood Plans Web3 Crypto Wallet
The popular stock and crypto trading platform Robinhood will release a non-custodial cryptocurrency wallet with support for non-fungible tokens (NFT). The upcoming wallet will not charge gas fees and support DeFi services, and other token swap functionalities.

Robinhood Plans Web3 Crypto Wallet

According to an official announcement, Robinhood is “building a brand new non-custodial, Web3 wallet” that will be a standalone app and will give customers their own keys for their crypto, similar to other non-custodial wallets like MetaMask.

More specifically, it will allow users to trade and access cryptocurrency, store NFTs, and earn a yield on crypto holdings. The wallet will also include multi-chain support, presumably for the 11 crypto assets that Robinhood supports.

“By offering the same low cost and great design that people have come to expect from Robinhood, our web3 wallet will make it easier for everyone to hold their own keys and experience all the opportunities that the open financial system has to offer,” CEO Vlad Tenev said in the announcement release.

FTX’S SBF Takes 7.6% Stake in Robinhood

The wallet isn’t available just yet, but there is a waiting list for early access to the Beta program this summer and will make be available globally by the end of the year.

The news of Robinhood's upcoming web3 wallet comes after it was recently revealed that FTX CEO Sam Bankman-Fried took a 7.6% stake in Robinhood.

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Robinhood to Launch Non-Custodial Wallet With NFT Support
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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