According to the recent announcement made by Robinhood executives at the 2022 Permissionless Conference, the trading platform is about to introduce a new NFT-compatible custodial wallet.
In addition to storing NFTs, the wallet by Robinhood will be linked to the major web3 platforms, allowing holders into dozens of ecosystems. While the list of blockchains the Robinhood wallet will support is still kept secret, the trading app stated it would be friendly to even more tokens than are now available within the platform.
According to the insider report, users of the new multi-functional Web3 wallet will be able to lend, stake, yield farm, and even buy NFTs, leaving both MetaMask and CoinBase wallets biting the dust. On top of that, the new, “almost transaction fee-free” experience is said to be achieved with the support of liquidity partners, who offer the most competitive rates. Robinhood’s earlier version of the crypto wallet lacked all those features.
While Robinhood’s representatives state that the new software will be intended for advanced crypto traders, they also promise the new wallet will have an intuitive and user-friendly interface.
Currently, the official date of launch is still shady, but those who already use the previous Robinhood wallet version are allowed to whitelist. Anyway, the revolutionary custodial and trading wallet is scheduled to be released by the end of 2022.
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