Robinhood adds MetaMask features for easier crypto purchases (NASDAQ:HOOD)

02/07/2024 02:43
Robinhood adds MetaMask features for easier crypto purchases (NASDAQ:HOOD)

MetaMask and Robinhood Connect integrate to make it easier for users to access web3 and buy digital assets through Robinhood's order engine.

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MetaMask, a self-custodial crypto wallet developed by Consensys, has integrated trading platform Robinhood Markets' (NASDAQ:HOOD) on-ramp feature called Robinhood Connect to essentially let MetaMask users buy digital assets through Robinhood's order engine, the companies said on Tuesday.

And, through MetaMask's Buy Crypto aggregator, Robinhood (HOOD) users can purchase crypto. The service will only be available to U.S. customers.

"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," said Lorenzo Santos, senior product manager at Consensys.

Launched in April, Robinhood (HOOD) launched its on-ramp feature to enable users to fund their self-custody wallets through debit, bank transfer or Robinhood buying power.

Crypto trading activity on Robinhood (HOOD) was exceptionally strong at the end of 2023, amid a rally across token prices in the run-up to the approval of spot bitcoin (BTC-USD) exchange-traded funds. The company's crypto notional trading volumes in November were roughly 75% above October 2023 levels.

In December, Robinhood (HOOD) launched commission-free crypto trading in the European Union a week after it announced plans to bring its stock trading app to the U.K. in early 2024.

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