In a blog post on Tuesday, the stock trading platform Robinhood announced an upcoming non-custodial cryptocurrency wallet in development. This new crypto wallet will launch as its own standalone app, outside of the existing Robinhood stock & crypto mobile app.
Planned Features
Robinhood makes it clear this wallet will allow individuals to fully own their cryptocurrency. Being non-custodial, the only person with keys to your crypto is the one setting up the wallet themselves. Robinhood and other 3rd parties will not have keys to your wallet.
Robinhood further announced dapp compatibility to take advantage of crypto-based dapps. Some examples they give include:
- Trade and swap crypto with no network fees
- Store NFTs and connect to NFT marketplaces
- Earn yield using their assets
- Access a variety of crypto assets
Available Later this Summer via Waitlist
Existing users of the Robinhood platform can sign up for the waitlist to get early access to the new product. Robinhood plans to begin inviting for their Beta program later this summer and make the product generally available to all Robinhood customers by the end of the year.