Robinhood is finally entering the software wallet game.
The company today launched the Robinhood Wallet, a smartphone app that allows users to swap and transfer crypto, and view owned NFTs and crypto. It’s currently available to over 1 million waitlisted users who have been given an access code, according to Robinhood. It was previously released in beta to just 10,000 waitlisted customers in September.
The Robinhood Wallet uses Polygon, an Ethereum sidechain, to offer swaps without network fees. It also added support for Ethereum today.
If you’re confused about what’s going on with Robinhood “wallets,” we don’t blame you. Robinhood initially referred to a new transfer feature on its original trading app as a “Crypto Wallet” product. That feature launched in beta in January 2022, and it finally allowed Robinhood users to transfer crypto to and from the platform.
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