Consensys and Robinhood Markets to provide self-custodial web wallet for crypto traders – The Armchair Trader

Consensys, a blockchain and web3 software program firm, and Robinhood Markets, Inc [NASDAQ:HOOD], have launched the combination of Robinhood Join with MetaMask, the self-custodial web3 pockets. Utilizing MetaMask’s Purchase Crypto characteristic, prospects can now buy crypto by Robinhood’s low price order engine.

The launch is a part of MetaMask’s ongoing purpose of supporting the adoption of web3 by offering extra customers with frictionless, safe, and self-custodial onboarding to web3.

Self-custodial choices like MetaMask enable crypto customers to keep up full management over their digital belongings. By integrating two main platforms in web3 and monetary know-how, Robinhood’s prospects can now use Robinhood Connect with buy crypto by MetaMask’s Purchase Crypto aggregator, which permits them to seamlessly and simply purchase crypto from numerous totally different suppliers.

“The mixing between MetaMask and Robinhood is an thrilling step in our shared dedication to scale back friction for customers looking for entry to a self-custodial possibility,” mentioned Lorenzo Santos, Senior Product Supervisor at Consensys. “We all know that crypto and web customers need larger management and possession. It will assist extra individuals entry crypto in a seamless and self-custodial method, by providing extra shopping for choices with service suppliers they already use and belief.”

Robinhood Join is designed to supply a seamless expertise for current Robinhood prospects to fund their self-custody pockets by way of debit, financial institution switch, or Robinhood shopping for energy. This characteristic permits customers to begin utilizing their crypto instantly.

A 2023 international survey of over 15,000 respondents carried out by Consensys discovered a robust shift in web consumer conduct towards energetic participation, empowerment, and broader group possession. 79% of respondents need extra management over their id on the web and 67% of respondents imagine they need to personal the issues they make on-line.

In the meantime, a 3rd of respondents cited the complexity of web3 know-how as a key barrier to coming into the crypto ecosystem. Consensys views these expectations of web customers as indicative of a basic shift within the desired relationship between customers and the platforms and companies they entry. These findings spotlight the necessity to simplify crypto customers’ entry to self-custodial companies.