New integration allows customers to purchase crypto through Robinhood’s low cost order engine, facilitating web3 adoption through a secure, user-friendly, and self-custodial approach.
Today, Consensys, the leading blockchain and web3 software company, and Robinhood Markets, Inc (NASDAQ: HOOD), launched the integration of Robinhood Connect with MetaMask, the world’s leading self-custodial web3 wallet. Using MetaMask’s Buy Crypto feature, customers can now purchase crypto through Robinhood’s low cost order engine. The launch is part of MetaMask’s ongoing goal of supporting the adoption of web3 by providing more users with frictionless, secure, and self-custodial onboarding to web3.
Self-custodial options like MetaMask allow crypto users to maintain complete control over their digital assets. By integrating two leading platforms in web3 and financial technology, Robinhood’s customers can now use Robinhood Connect to purchase crypto through MetaMask’s Buy Crypto aggregator, which allows them to seamlessly and easily buy crypto from a number of different 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,” said Lorenzo Santos, Senior Product Manager at Consensys. “We know that crypto and internet users want greater control and ownership. This will help more people access crypto in a seamless and self-custodial manner, by offering more buying options with service providers they already use and trust.”
“At Robinhood it's our mission to reduce friction wherever possible to increase adoption of web3," said Seong Lee, Head of Product at Robinhood Crypto. "Robinhood Connect provides a seamless experience for existing Robinhood customers to fund their self-custody wallet via debit, bank transfer, or Robinhood buying power. This feature allows users to start using their crypto right away.”
A 2023 global survey of over 15,000 respondents conducted by Consensys found a strong shift in internet user behavior toward active participation, empowerment, and broader community ownership. 79% of respondents want more control over their identity on the internet and 67% of respondents believe they should own the things they make online. Meanwhile, a third of respondents cited the complexity of web3 technology as a key barrier to entering the crypto ecosystem. Consensys views these expectations of internet users as indicative of a fundamental shift in the desired relationship between users and the platforms and services they access. These findings highlight the need to simplify crypto users’ access to self-custodial services.
About Consensys
Consensys is the leading blockchain and web3 software company. Since 2014, Consensys has been at the forefront of innovation, pioneering technological developments within the web3 ecosystem. Through our product suite, including the MetaMask platform, Infura, Linea, Diligence, and our NFT platform, we have become the trusted collaborator for users, creators, and developers on their path to build and belong in the world they want to see. Whether building a dapp, an NFT collection, a portfolio, or a better future, the instinct to build is universal. Consensys inspires and champions the builder instinct in everyone by making web3 universally easy to use and develop on. To explore our products and solutions, visit https://consensys.io/.
About Robinhood
Robinhood Markets is on a mission to democratize finance for all. With Robinhood, people can invest with no account minimums through Robinhood Financial LLC, buy and sell crypto through Robinhood Crypto, LLC, spend, save, and earn rewards through Robinhood Money, LLC, and learn about investing through easy-to-understand educational content. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). RHC is licensed to engage in virtual currency business activity by the New York State Department of Financial Services.
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