Robinhood And MetaMask Collaboration To Make Crypto Access Easier

Robinhood cooperates with Metamask, a leading crypto wallet. (Photo; Doc. BitcoinColik)

JAKARTA - Robinhood Markets, Inc., a financial technology company popular with retail investors, announced a strategic partnership with MetaMask, a digital wallet developed by ConsenSys. This collaboration is aimed at facilitating Robinhood's access to crypto assets.

In addition, this collaboration is also expected to improve the user experience by connecting Robinhood's cost-effective order machines with digital wallets widely used by Web3 users.

Web3 is a term that refers to third-generation internet, which is based on blockchain technology and crypto assets. Web3 offers a variety of benefits, such as transparency, decentralization, security, and privacy. However, to access Web3, users need a digital wallet, namely an application that is used to store, send, and receive crypto assets.

One of the most popular digital wallets among Web3 users is MetaMask, which has more than 21 million monthly active users. MetaMask not only functions as a wallet, but also as a Web3 browser, which allows users to access various blockchain-based applications, such as DeFi, NFT, games, and others.

However, to fill in MetaMask wallets with crypto assets, users must buy them from exchanges or other service providers, which can be time and cost. In addition, users must also pay attention to the security and credibility aspects of these service providers, because there are many cases of fraud and theft in the crypto space.

To solve this problem, Robinhood and MetaMask are hand in hand to simplify the process of purchasing crypto assets. Through this integration, MetaMask users will gain access to Robinhood Connect, a feature that allows them to connect their Robinhood account with MetaMask wallet. Thus, users can easily send crypto assets from Robinhood to MetaMask, without having to go through exchanges or other service providers.

Robinhood is one of the largest stock and crypto investment platforms in the US, with more than 31 million monthly active users. Robinhood offers a variety of investment products, including stocks, ETF, options, and crypto assets. Robinhood is also known as one of the platforms that offers zero transaction fees, attracting many retail investors, especially the younger generation.

With this partnership, Robinhood and MetaMask hope to increase user adoption and participation in the Web3 ecosystem. These two platforms also share a vision of financial democratization, which is to provide greater access and control to users over their digital assets.

The integration of Robinhood Connect with MetaMask will be launched in stages starting February 2024. MetaMask users can register to get initial access through the MetaMask website. Robinhood users can download the Robinhood Crypto app via the App Store or Google Play Store.