Robinhood Set to Launch Web3 Wallet with No Network Fees

Robinhood, best known for its equities trading platform announced this week that they will be launching a standalone, non-custodial web3 wallet.

The announcement came during a panel at Permissionless where co-founder Vlad Tenev teased plans to start beta testing later in the summer and have the wallet freely available to everyone within the year. There was also mention of the ability to store NFT’s and interact with DEFI services like many of its competitors. Robinhood CTO Johann Kerbrat said “To set up an account, users won’t need to share any personal information with the exchange unless they choose to connect their non-custodial wallet with their Robinhood app.” A simple tweet “Trade and swap crypto with no network fees.” along with a link to a waitlist was sent out by the company and has already garnered more than 285,000 sign-ups.

Very excited to see how Robinhood does in the non-custodial web3 space.