Robinhood Debuts Upgraded Cellular Pockets App with Crypto and NFT Help

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Fast take:

Robinhood has launched its upgraded cellular pockets app with crypto and NFT help.The web retail brokerage firm introduced the brand new pockets in Might final yr.Primarily based on the pockets’s App Retailer screenshots, customers will be capable to swap crypto with out community charges and retailer and show their NFTs.

Robinhood Markets Inc. (NASDAQ: HOOD) has formally launched its upgraded cellular pockets app with crypto and NFT help. The extremely anticipated pockets was initially introduced in Might final yr.

Primarily based on the pockets screenshots uploaded on the App Retailer, the brand new Robinhood pockets permits customers to personal and management their decentralised belongings, together with swapping crypto at zero community charges. The pockets can even enable customers to safe and show non-fungible tokens (NFTs).

The launch comes as the corporate seems to be to increase its ecosystem past inventory brokerage by tapping onto alternatives in web3. Within the Might 2022 announcement, the corporate stated customers will be capable to join the pockets to NFT marketplaces and decentralised alternate platforms.

The zero-fee crypto-swapping service aligns nicely with Robinhood’s commission-free enterprise mannequin that has seen it onboard a large person base onto retail inventory buying and selling.

The revamped cellular pockets presently permits customers to view tokens and NFTs on Ethereum and Polygon blockchains. An announcement on the app’s official web page on App Retailer additionally indicated that the corporate plans so as to add help for extra blockchains quickly.

“Swap crypto with no community charges on Polygon. Take full management and possession of your crypto (on Ethereum and Polygon with extra quickly), decentralized apps (dapps), and NFTs with a pockets constructed for web3,” the assertion reads.

The most recent replace to the app, Model 2023.3.1 additionally options some key enhancements and bug fixes and is suitable with iOS 14.0 or later.

Robinhood’s new cellular pockets app can be competing with the likes of Coinbase, which helps each NFTs and crypto buying and selling. Coinbase CEO Brian Armstrong revealed final yr that its crypto custody pockets was probably the most downloaded pockets within the US.

Robinhood’s bid to onboard customers to its new pockets can be boosted by its already large person base that features crypto and retail inventory merchants.


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