This integration allows customers to purchase cryptocurrency through Robinhood’s low-cost order engine, providing a secure, user-friendly and self-custodial approach to Web3 adoption, the companies said in a Tuesday (Feb. 6) press release.
Consensys, a blockchain and Web3 software company, collaborated with Robinhood Markets to launch the integration of Robinhood Connect with MetaMask, Consensys’ self-custodial Web3 wallet, according to the release.
With MetaMask’s Buy Crypto feature, customers can now purchase cryptocurrency through Robinhood’s low-cost order engine, the release said.
The goal of this integration is to support the adoption of Web3 by providing users with a frictionless, secure and self-custodial onboarding experience, per the release. Self-custodial options like MetaMask allow crypto users to maintain complete control over their digital assets.
Providing users with a simple way to access self-custodial services also aligns with internet users’ growing desire to control their identity on the internet and own the things they make online, the release said.
By integrating two prominent platforms in Web3 and financial technology, Robinhood’s customers can now use Robinhood Connect to purchase crypto through MetaMask’s Buy Crypto aggregator, according to the release. This aggregator enables users to seamlessly and easily buy crypto from various providers.
“The integration between MetaMask and Robinhood is an exciting step in our shared commitment to reduce friction for users seeking access to a self-custodial option,” Lorenzo Santos, senior product manager at Consensys, said in the release.
This integration also aligns with Robinhood’s mission to reduce friction and increase adoption of Web3, Seong Lee, head of product at Robinhood Crypto, said in the release.
“Robinhood Connect provides a seamless experience for existing Robinhood customers to fund their self-custody wallet via debit, bank transfer or Robinhood buying power,” Lee said. “This feature allows users to start using their crypto right away.”
In another recent move, Robinhood said in November that it began offering brokerage services in the United Kingdom, letting customers trade more than 6,000 U.S.-listed stocks.
The launch followed other attempts by the company to enter the U.K., including its abandoned attempt to acquire cryptocurrency trading platform Ziglu.