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Robinhood has launched its cryptocurrency pockets for Android customers, following a yr after the pockets was made obtainable to iOS customers globally.
The Android model was beforehand in beta with a public waitlist for registration. With the discharge, all people on the waitlist can now entry the pockets.
Johann Kerbrat, common supervisor of Robinhood Crypto, said that the Android launch represents progress in Robinhood’s efforts to combine cryptocurrency into the lives of individuals worldwide.
Robinhood reported in its fourth quarter 2023 outcomes that its cryptocurrency business had grown, with crypto income growing by 10% year-over-year to $43 million in This fall. The corporate additionally famous an 89% rise in crypto buying and selling quantity for a similar quarter, pushed by heightened buyer exercise. Moreover, Robinhood expanded its crypto buying and selling app to the European Union.
The pockets, which is self-custodial, has been downloaded globally “a whole bunch of 1000’s of instances” since its launch. It helps sending, receiving, and storing features for cryptocurrencies on a number of networks, together with Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base. It additionally allows token swaps on Ethereum, Polygon, and Arbitrum by way of decentralized change aggregators 0x API and LI.FI, with out service charges, although blockchain transaction charges apply.
Robinhood said that the Android rollout is the start of additional developments for the pockets, with plans to introduce new options based mostly on buyer suggestions. Upcoming enhancements embrace entry to cross-chain swaps and on-ramps to facilitate entry into web3, in collaboration with companions like Arbitrum, LI.FI, and 0x.
Earlier final month, the self-custodial crypto pockets MetaMask built-in with Robinhood to permit customers to purchase cryptocurrencies instantly by way of the favored buying and selling platform’s system. MetaMask’s developer, ConsenSys described this partnership as a significant step in direction of bridging conventional finance with the blockchain-based economic system.
Developed by ConsenSys, MetaMask claims to have almost 30 million month-to-month energetic customers. With this integration, MetaMask users are in a position to buy digital belongings utilizing Robinhood’s order movement. Concurrently, Robinhood account holders can switch their crypto belongings to their MetaMask pockets. This collaboration leverages Robinhood Join, the buying and selling platform’s fiat-to-crypto on-ramp, now included as a service supplier in MetaMask’s “Purchase Crypto” characteristic.
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