In a recent interview, Robinhood stated that it plans to roll out beta versions of the wallet this summer, with the goal of making them widely available by the end of the year.
The company, whose main commodity is stocks, is wondering to the crypto game and may find it difficult to compete with established players like Coinbase in the long run.
We also have more from the interview below.
Decrypt ask Kerbrat is part of Robinhood's plan will include "partnering with liquidity partners to get the best price,"
According to RobinHood, the technology of this wallet will let users "trade and swap crypto with no network fees," access DeFi services and store NFTs.
Decrypt question about whether Robinhood's no-fee plan is relying on Ethereum's upcoming switch to a proof-of-stake network, a spokesperson replied, "There’s multiple solutions to deliver on that vision, and we’re exited to show everyone how we’re going to do it."
He added that Robinhood is working to ensure there are "guard rails" for new users who are more at risk of losing their funds due to a lack of familiarity with storing private keys and other elements of Web3 use.
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