Crypto

Robinhood Web3 crypto wallet goes live on Polygon | Fintech time

Stock and crypto investment app Robin Hood introduced a self-contained cryptocurrency wallet — dubbed the Robinhood Wallet — in conjunction with scaling platform Ethereum Polygon.

The wallet supports Polygon as the first blockchain network. It gives customers full control over their crypto, allowing them to swap and trade crypto without network fees, as well as access the decentralized web.

Jean Kerbrat, Chief Technology Officer at Robinhood Crypto, said, “The launch of Robinhood Wallet beta marks an important milestone in our journey to make Robinhood the most trusted and easiest crypto platform for customers. Like we did with the stock market, Robinhood Wallet removes some of the complexities of Web3 and DeFi to make crypto more accessible to everyone.

“We are excited to work with Polygon as the first blockchain network supported by Robinhood Wallet. We chose Polygon because of its scalability, speed, low network fees, and robust developer ecosystem to deliver one of the best trading experiences to customers. Robinhood has also recently rolled out support for deposits and withdrawals on the Polygon PoS network so that customers can purchase its native MATIC token on the Robinhood app and transfer it seamlessly. transparently to their portfolio in free custody.

Currently, users can swap and trade crypto without network fees, earn crypto rewards, securely store and track your blockchain wallet, and connect to decentralized applications (dapps) to earn yield. It’s available to 10,000 iOS customers who joined a waitlist in May. Viewing NFTs and connecting to NFT markets will be supported when the wallet is available to the general public.

While the wallet is launching exclusively with Polygon, it will eventually be a multi-chain wallet supporting a large number of blockchains.

Revolut gets crypto green light

Meanwhile, in the UK, Revolution has received full regulatory approval to conduct crypto trading activities in the UK. It was added to Financial Conduct Authority‘s (FCA) register of companies licensed to facilitate trading in crypto-assets.

Registration with the FCA allows Revolut to continue operating a UK-based digital asset business, including trading and custody of crypto assets.

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