Online broker Robinhood has introduced a solution for exchanging fiat money for cryptocurrencies with support for decentralized applications (dapps) and non-custodial wallets.
Introducing our latest investment in crypto, Robinhood Connect: https://t.co/SmENSYufBA
A low-cost, on-ramp for customers, and a seamless integration for developers. Learn more: https://t.co/rnBnR0LYww pic.twitter.com/6uSIAJkudO
— Robinhood (@RobinhoodApp) April 27, 2023
Robinhood Connect allows users to buy and sell digital assets without leaving dapps using bank cards.
Developers will be able to embed the tool directly into the application.
“Cryptocurrencies and Web3 have the potential to change the future of the financial system for the better, but we recognize that there are still significant barriers to their wider adoption,” said Johann Herbrath, head of Robinhood Crypto.
With the introduction of Connect, Robinhood customers will be able to access their accounts without additional steps, the developers noted. The solution will be launched soon with Phantom and Exodus wallets. The team will start rolling out to other platforms in the coming months.
The company also announced improvements to the app interface aimed at digital asset users. Updates include enhanced technical indicator charts, new order types, and price alerts.
“Cryptocurrencies, with their low barrier to entry, provide an opportunity for those historically left out of the traditional financial system and can help close the wealth gap,” Robinhood said.
Recall that in September 2022, the company launched its own version of a non-custodial wallet.
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