Robinhood launches fiat gateway for non-custodial wallets and dapps

The online broker Robinhood unveiled a fiat-to-crypto on-ramp with support for decentralized applications (dapps) and non-custodial wallets.

Introducing our latest investment in crypto, Robinhood Connect: https://t.co/SmENSYufBA

A low-cost, on-ramp for customers, and a seamless integration for developers. Learn more: https://t.co/rnBnR0LYww pic.twitter.com/6uSIAJkudO

— Robinhood (@RobinhoodApp) April 27, 2023

Robinhood Connect lets users buy and sell digital assets without leaving dapps, using bank cards.

Developers will be able to embed the tool directly into the app.

“Cryptocurrencies and Web3 could change the future of the financial system for the better, but we understand that there are still significant obstacles to their wider adoption,” said Johann Gerbrat, head of Robinhood Crypto.

With Connect, Robinhood clients will be able to access their accounts with no extra steps, the developers said. The rollout will soon launch with the Phantom and Exodus wallets. In the coming months the team will begin rolling out on other platforms.

The company also announced improvements to the app’s interface aimed at digital-asset users. The updates include expanded charts of technical indicators, new order types, and price alerts.

“Cryptocurrencies, with their low barrier to entry, offer opportunities to those who have historically remained outside the traditional financial system, and could help narrow the wealth gap,” Robinhood said.

Back in September 2022, the company launched its own version of a non-custodial wallet.