Crypto investment platform Robinhood announced a new feature “Connect” on April 27 at Consensus 2023. The new feature was announced by the crypto General Manager GM Johann Kerbrat.
Connect will allow Robinhood customers to fund their Web 3 wallet without having to be logged in to their Robinhood Crypto accounts. It will allow users to access its crypto trading features from third-party apps.
Also, Connect will make it easy for its users to connect their Robinhood accounts to an external Web 3 platform. This will enable them to manage their digital assets, access decentralized financial services, and also be involved in decentralized governance.
In a statement, Johann Kerbrat said:
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“Crypto and Web3 have the potential to change the future of the financial system for the better, but we recognize there are still significant hurdles preventing broader adoption,” said Johann Kerbrat, GM of Robinhood Crypto.”
In its official press release, Robinhood highlighted that the new feature will first be added to the Phantom and Exodus wallets. However, in the coming months, the feature will be extended to other supported applications.
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The new Robinhood Connect feature is expected to create a link between centralized and decentralized financial services. Also, Fortune reports that the new feature will allow users to trade digital assets through Robinhood’s cryptocurrency exchange.
The launch of the new product signifies the rapid growth of a decentralized economy, and also its acceptance by mainstream financial platforms.
“Our conviction in the future of Web3 remains strong, and we’ve continued to build new products that put the accessibility and usability of crypto front and center for customers, positioning Robinhood as the lowest cost, easiest to use on-ramp to crypto.” Johann Kerbrat said in a statement.
Robinhood looks to solidify itself in the ever-evolving world of finance. It hopes to cater to a new generation of investors that seeks to expand their investment opportunities.
Recall that in January 2023, Robinhood launched a non-custodial iOS wallet, and two months later in March, it extended the app’s availability.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.