Robinhood introduces the wallet app for iOS worldwide

Robinhood introduces the wallet app for iOS worldwide

The online brokerage company Robinhood has introduced its crypto wallet app worldwide for iOS users on Wednesday.

The app will support both the Ethereum network and its Layer 2 scaling solution polygon-but not Bitcoin.

Robinhoods Web3 Wallet

Pro a blog entry by Robinhood of the company now has a waiting list of over User and was downloaded into over 130 countries.

For a limited time, users of the app can be rewarded with 1 USDC if you pay crypto worth $ 10 from an external wallet or stock exchange, or earn 5 USDC if you withdraw the same amount from Robinhood's own exchange.

With the wallet, users can hold cryptocurrencies without network fees and exchange-which are known to achieve an exorbitant level in times of high demand. It can also combine on a "wide range of decentralized applications" and interact with NFTS.

"The feedback that we have received for Robinhood wallet since the first start in the beta was extremely positive," said Johann Kerbrat, GM by Robinhood Crypto. "Users have told us that they love the accessibility and user -friendliness of the app and that they really enjoy the opportunity to keep their digital assets themselves and to exchange polygon without network fees."

Kerbat said that the high demand for interactions with other chains and assets motivated the team to quickly implement Ethereum into their wallet. Ethereum is the long-time king of the defi and NFT economies and, according to information, houses over 50 % of the defi tvl defillama .

The wallet is self-controlling, which means that users keep control of their private keys and therefore have their own crypto. These cryptos include ETH, Matic and SOL as well as over 50 ERC tokens such as Shib and USDC.

Demand for self-custodial wallets and defi flooded after the collapse of ftx, in which the founders are generally suspected for personal advantage too have.

Robinhood plans to introduce further coins in the coming months and to expand its in-app reward program, and to provide Android users available later this year.

Robinhood VS regulators

Robinhood is now examined by the Securities and Exchange Commission (sec) about some of the token listed on their crypto exchange. Since the Fallout of FTX, the agency has been hard against a number of crypto companies-including Krake and paxos - with the claim that some of their products are not registered securities.

Robinhood was connected to the former boss of FTX, Sam Bankman-Fried (SBF), who had shares of the brokerage company worth over $ 450 million. Now the authorities have received permission seize these stocks of SBF, since there is a suspicion that the funds are connected to transfer fraud and money laundering.

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