Robinhood Wallet Now Supports Bitcoin and Dogecoin, and Ethereum Swaps

The US-based retail trading app Robinhood Markets Inc. (Robinhood) announced Wednesday that its multi-chain, self-custody, Web3 wallet Robinhood Wallet has launched custody, send, and receive support for Bitcoin and Dogecoin to all users, and allowed in-app swaps on the Ethereum network.

According to the official press release, in-app Ethereum swaps started rolling out to select users on August 30 for 200+ tokens, and will become available to all clients in the coming weeks.

Users are able to swap without holding Ethereum, and network fees are automatically deducted from the tokens they already hold.  

"With Robinhood Wallet we stripped away many of the complexities of DeFi and the broader Web3 ecosystem, and reduced some of the challenges and barriers to entry for everyday people," said Johann Kerbrat, General Manager of Robinhood Crypto. "We've been really encouraged by the adoption so far, and are excited to keep building for our customers around the world as we ship new features and expand support for new networks and tokens."

Since going live around six months ago, Robinhood Wallet currently allows users to own, send, and receive crypto on Arbitrum, Bitcoin, Ethereum, Dogecoin, Optimism, and Polygon networks, swap crypto on Ethereum and Polygon, and connect to a wide range of decentralized applications.

This offering has delivered access to all iOS users on August 30, with Android support expected to follow later this year. 

Shortly before, Fazzaco reported that Robinhood has cut ties with Jump Trading​, one of the largest market makers in traditional finance which facilitated the broker to enter into crypto several years ago.