Robinhood Wallet is Now Open to All iOS Users

Crypto and stock broker Robinhood launched Robinhood Wallet to all global iOS users, with no waitlist or invitation code required to use it anymore. Further, the company announced limited USDC rewards for users who transfer crypto funds from Robinhood Crypto or another wallet to their new Robinhood Wallet.

Robinhood Announces USDC Rewards and Support for Ethereum Network

Robinhood Wallet is now available to all iOS global users, the financial services firm announced Wednesday in a blog post. The wallet has been rolled out to more than 1 million users on the waitlist through the Apple app store, with no invitation code required.

Users can start using their new Robinood Wallet and earn up to 5 USD Coin (USDC) after transferring $10 in crypto funds from Robinhood Crypto. Alternatively, those who transfer $10 from another wallet or crypto exchange to their Robinhood Wallet can earn up to 1 USDC for a limited time, the company wrote in the post.

In addition, Robinhood also announced support for Ethereum and more than 50 ERC tokens, as well as the ability to transfer tokens like COMP, MATIC, SHIB, SOL, UNI, and USDC, among others. Until now, Robinhood Wallet has been only supporting the Polygon network, but the company added support for Ethereum upon users’ requests for more coins and chains.

“The feedback we’ve received for Robinhood Wallet since first launching in beta has been extremely positive,” said Johann Kerbrat, GM of Robinhood Crypto. “Users have told us they love how accessible and easy to use the app is, and that they really enjoy the ability to self-custody their digital assets and swap with no network fees on Polygon.”

– Johann Kerbrat, GM of Robinhood Crypto.

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What is the Robinhood Wallet?

Launched in September 2022, Robinhood Wallet is a self-custody, Web3 wallet that allows users to hold and swap assets and interact with a broad range of decentralized applications (dApps). It was initially rolled out to 10,000 users who signed up for the testing period before the public release.

Robinhood, a stock and crypto trading app that saw unprecedented growth amid the pandemic boom, has suffered a harsh decline in the past two years. Last month, the company reported its crypto trading revenue fell 24% in Q4 2022, a year after it suffered a net loss of $423 million.

On a more positive note, the company reported $3.7 billion in crypto trading volume in January, a substantial increase of 95% from December. The data represents a welcome change for the troubled crypto and stock broker, which has lost millions of users since its peak.

Are you planning to try out the newly launched Robinhood Wallet? Let us know in the comments below.