The recent changes come after Robinhood said it had heard from its users that there was a strong desire for additional crypto and blockchain networks to be added to its wallet offerings.
Robinhood’s Web3 wallet adds support for Bitcoin and the DOGE network. Previously only Ethereum, Polygon, Arbitrum and Optimism networks were supported. Additionally, the in-wallet transaction feature adds support for the Ethereum network, which was previously only supported…
— Wu Blockchain (@WuBlockchain) August 30, 2023
The most recent update adds Bitcoin and Dogecoin to this list, allowing users to custody, send, and receive cryptocurrencies on these networks. This diversifies the wallet’s capabilities, offering users more options in how they manage their digital assets.
Additionally, Robinhood has enabled in-app swaps on Ethereum. This feature is available initially to a select group of users and is planned to be rolled out more widely in the coming weeks.
Johann Kerbrat, the general manager of Robinhood Crypto, said the updated wallet aims to “strip away many of the complexities of decentralized finance (defi) and the broader web3 ecosystem” to make it more accessible for everyday users.
While responding to feedback from users who wanted more options in crypto management, Robinhood said it is “actively working to broaden access to other low-cost, fast and secure layer-2 chains.” These updates reflect Robinhood’s focus on expanding and diversifying its crypto offerings to meet user needs.
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