Robinhood-MetaMask linkup aims ‘to reduce friction’ for new crypto investors

Robinhood-MetaMask linkup aims ‘to reduce friction’ for new crypto investors

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Blockchain software company ConsenSys and investment platform Robin Hood today announced the integration of Robinhood Connect with MetaMask, allowing users of the popular trading platform greater access to cryptocurrencies.

Linking the main self-custodians Web3 wallet with Robinhood Connectiona cryptocurrency trading feature launched last year, means that “as a MetaMask user, you will be able to use the Robinhood platform to load your wallet with cryptocurrency,” said Lorenzo Santos, senior product manager at Consensys. Fortune.

Customers can now use MetaMask’s Buy Crypto aggregator to make in-app purchases through Robinhood’s ordering engine, automatically connecting those transactions to their digital wallets.

“Our mission is to reduce friction wherever possible to increase Web3 adoption,” Seong Lee, head of product at Robinhood Crypto, said in a statement.

Santos added: “This is the first step of the journey.”

And that journey begins in the MetaMask app. Whether it’s USDC, Ethereum, or Bitcoin, any digital asset a user wants to buy, they will see a Robinhood quote. After clicking the link, they’ll be taken to the Robinhood interface, where “we’ll set everything up for you,” Santos explained. Once the purchase is complete, the crypto will instantly appear in the user’s MetaMask wallet for use on-chain.

Launched in 2014, ConsenSys is a Ethereum Blockchain company whose products help developers, companies and users create Web3 applications. It doubled its valuation to more than $7 billion in 2022. And with more than $89 billion in assets under management last year, Robinhood, once considered something of a a coin casino to get rich quickSince then, it has evolved to be more like a conventional brokerage.

All of that will hopefully, Santos said, make investing in cryptocurrencies feel a little more friendly and reliable for new customers. “Having a brand like Robinhood establishes that. It is a publicly traded company that has proven its effectiveness.”

The integration, Santos added, basically means that the approximately 10 million customers who “already trust Robinhood with their credit cards and bank accounts” now have a seamless path to buying and selling cryptocurrency. Existing MetaMask users may also turn to Robinhood to make trades. “New users who haven’t interacted with Robinhood yet will see the price and the recognized logo and say, ‘Let me try that.'”

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