Robinhood announced on Wednesday that its self-custodial crypto wallet app is now available to all iOS users. The wallet first debuted last September in beta with 10,000 users and no network fees for trading Polygon MATIC tokens. In January, the company released it to over 1 million users on the waiting list.
While the app was first launched exclusively with Polygon, the company has now included the Ethereum blockchain along with support for more than 50 ERC tokens such as COMP, MATIC, SHIB, SOL, UNI, USDC, and more.
“Users told us they wanted access to more coins on more chains, which is why we quickly added support for Ethereum. While we recognize that it has been a tumultuous few months in the cryptocurrency space, we remain committed to our mission of making Robinhood the most reliable, lowest-cost, and easiest-to-use onramp to cryptocurrency,” Johann Kerbrat, General Manager from Robinhood. Crypto, said in a blog post.
Robinhood Wallet also allows users to keep their NFTs based on Polygon and Ethereum. Additionally, they can access dApps such as Uniswap, Balancer, and Kyberswap. The company noted that it will not charge any network fees on Polygon yet.
The fintech company said that for security, users will need to set up a FaceID/Touch ID unlock or custom PIN to access the app at all times. Also, like other self-custodial wallets like MetaMask, users will need to generate and store a recovery phrase.
Robinhood said the app is available in 130 countries on Apple’s App Store and is working to release the Android version later this year.
Earlier this week, the US Securities and Exchange Commission (SEC) cited the company for its cryptocurrency transactions. Meanwhile, the robo-advisor firm Wealthfront launched has launched a rival stock trading solution which allows users to invest as little as $1.
