Robinhood Pulls Back Curtain on Android Crypto Wallet for Extending Access

Wednesday, 20/03/2024 | 15:05 GMT by Tareq Sikder

The wallet facilitates token swaps on Ethereum, Polygon, and Arbitrum through decentralized exchange aggregators.

Users incur no service fees on token swaps, though standard blockchain transaction fees are applicable.

Robinhood has announced the official launch of its cryptocurrency wallet for Android users. This move is set to broaden access to digital currencies for millions of potential users globally. The expansion to Android comes approximately a year after the initial rollout of the Robinhood Wallet to iOS users worldwide.

Android Crypto Wallet Escapes Beta

The Android version has been in beta testing until now, with a public waitlist available for registrations. With the general release, all customers who had previously joined the waitlist can now download the Android wallet and begin utilizing its features, Robinhood revealed today (Wednesday).

Seong Lee, Head of Product at Robinhood Crypto, Source: LinkedIn

Johann Kerbrat, General Manager of Robinhood Crypto, Source: LinkedIn

Johann Kerbrat, the General Manager of Robinhood Crypto, expressed that the Android launch signifies an advancement in the company's dedication to making cryptocurrencies more accessible and seamlessly integrated into daily life for millions worldwide.

The self-custodial wallet was first introduced last year and has garnered hundreds of thousands of downloads globally since its inception, according to the company's statement. The wallet, as outlined on the Robinhood website, facilitates crypto send, receive, and store functions across various networks, including Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base.

Fee-Free Token Swaps

Additionally, it supports token swaps on Ethereum, Polygon, and Arbitrum via decentralized exchange aggregators 0x API and LI.FI. Importantly, users are not subjected to service fees on token swaps, although standard blockchain transaction fees apply. Robinhood emphasized that the Android rollout represents merely the initial phase for Robinhood Wallet. The company intends to continually enhance the wallet's functionalities, incorporating new features based on user feedback in the coming months.

"We are actively working to provide Robinhood Wallet users access to cross-chain swaps via decentralized exchange aggregators soon and on-ramps that lower barriers to entry in web3," Seong Lee, the Head of Product at Robinhood Crypto, told The Block in a statement. "By working with organizations like Arbitrum, LI.FI and 0x, we will help users do even more with their crypto."