Robinhood expands crypto services with Android wallet launch

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Robinhood has broadened its cryptocurrency pockets providers to Android customers, growing international adoption of digital belongings and facilitating simpler transactions.

The launch comes a yr after Robinhood’s Pockets was made accessible to iOS users, marking a constant stride in direction of enhancing accessibility and integrating cryptocurrencies into on a regular basis transactions for hundreds of thousands worldwide.

The transition from beta to general release permits people on the general public waitlist to entry the Robinhood Pockets on Android units. Robinhood Crypto Common Supervisor Johann Kerbrat described the Android launch as an enormous step within the firm’s ongoing efforts to democratize cryptocurrency utilization.

The growth aligns with Robinhood’s recent performance metrics, which revealed a ten% improve in crypto income to $43 million within the fourth quarter of 2023 and an 89% surge in notional crypto buying and selling quantity in comparison with the earlier quarter. The platform’s development has been attributed to heightened buyer exercise and follows the corporate’s strategic extension of its crypto buying and selling app to the European Union market.

The Robinhood Pockets, a self-custodial resolution launched final yr, has seen elevated adoption, with downloads reaching a whole lot of hundreds globally. It helps varied functionalities, together with sending, receiving, and storing cryptocurrencies on main networks equivalent to Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base.

The pockets facilitates token swaps on Ethereum, Polygon, and Arbitrum by decentralized change aggregators such because the 0x API and LI.FI, with out imposing service fees on these transactions, although normal blockchain transaction charges are relevant.

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