Popular retail trading platform Robinhood says its self-custodial web3 wallet now supports in-app swapping on the Ethereum (ETH) network.
In a statement, Robinhood says say select users can now trade for over 200 tokens on Ethereum starting Wednesday, August 30, and the feature will be available to all users in the coming weeks.
Unlike other wallets, the Robinhood Wallet does not require users to hold ETH tokens to trade, as the platform automatically deducts network fees from the crypto assets users already own.
Johann Kerbrat, CEO of Robinhood Crypto, says the new in-app swap feature will make decentralized finance (DeFi) more accessible.
“With Robinhood Wallet, we have removed many of the complexities of DeFi and the broader Web3 ecosystem, and reduced some of the challenges and barriers to entry for everyday people.”
Robinhood says it is launching Ethereum in-app swaps, along with support for holding, sending, and receiving Bitcoin (BTC) and Dogecoin (DOGE), in response to user requests for access to more coins on more chains.
The trading platform also previously launched a crypto-on-ramp that allows users to directly access and fund their Robinhood wallets without leaving decentralized applications (DApps) and logging into their accounts.
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