According to Cointelegraph, Robinhood Connect permits customers to conduct cryptocurrency-based transactions using their self-custody wallet
Robinhood Connect, a fiat-to-crypto on-ramp facility providing backing of decentralised applications (dApps) and self-custody wallets, has been introduced at Consensus 2023, as stated by Cointelegraph.
According to Cointelegraph, Robinhood Connect permits customers to conduct cryptocurrency-based transactions using their self-custody wallet or dApps through a credit or debit card. It’s believed that Robinhood Connect comprises Web3.0 applications for developers. Through this feature, customers can obtain their Robinhood credentials in dApps without needing to enter Robinhood website.
Based on Cointelegraph’s website, the service is currently present in MyDoge, Giddy and Slingshot platforms, and is expected to receive backing from Exodus and Phantom. “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,” Johann Kerbrat, general manager, Robinhood Crypto, highlighted.
Moreover, Cointelegraph noted that considering January, 2023, Robinhood claims to have 23 million total user accounts and $74.7 billion in custodial assets.
(With insights from Cointelegraph)
Source:financialexpress.com