Robinhood and MetaMask partner to make it easier to buy cryptocurrencies in the US

Linking Robinhood account and wallet

Web3 wallet MetaMask and investment app Robinhood have partnered to launch a new service that makes it easier to access the crypto asset (virtual currency) market in the United States.

As a result of this partnership, Robinhood users in the United States can now use Robinhood Connect to purchase cryptocurrencies through their MetaMask wallet. This service specifically meets the needs of users who want to self-custody their assets, making asset management in decentralized apps (dApps) faster and easier.

MetaMask’s Buy Crypto feature aggregates crypto purchases and allows users to make purchases directly from their MetaMask wallet. Robinhood Connect, on the other hand, offers users the ability to transfer funds directly to their self-custodial crypto wallets using debit cards, bank transfers, or buyable funds (Buying Power) available within the Robinhood app. .

Song Li, Robinhood Crypto’s head of product, said that they are “trying to reduce friction as much as possible” as they aim to increase the adoption of Web3.

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Supports self-management of assets

Lorenzo Santos, senior product manager at Consensys, the company that provides MetaMask, said: “This partnership gives users more control and ownership of the service providers they trust and rely on.” “This will enable seamless and self-managed access to cryptocurrencies.”

MetaMask is known as a secure and versatile Web3 wallet that has established itself through partnerships with major payment companies such as Stripe and PayPal. Meanwhile, Robinhood is a prominent financial trading platform that aims to democratize finance, and has expanded its product lineup, including starting trading in 11 Bitcoin spot ETFs for U.S. customers in January of this year. There is.

According to Binhood’s financial report for the second quarter of 2023, the number of monthly active users of the company’s app is 10.8 million.

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