Robinhood Markets ( NASDAQ: HOOD ) has introduced a new way for its customers to fund their web3 wallets without needing to exit decentralized apps (dapps) or be in their cryptocurrency accounts, the retail trading app said Thursday in a blog post. The new feature, called Robinhood Connect, will enable users to access their credentials on Robinhood ( HOOD ) and avoid further steps. The company said Connect is rolling out soon with Phantom and Exodus, and will start launching on other platforms in the months ahead. The move comes as "our conviction in the future of Web3 remains strong, and we've continued to build new products that put the accessibility and usability of crypto front and center for customers, positioning Robinhood as the lowest cost, easiest to use on-ramp to crypto," said Johann Kerbrat, general manager of Robinhood Crypto. During the fourth quarter, HOOD said it had started introducing its self-custody wallet app to over 1M waitlisted users , while noting crypto transaction-based revenue of $39M fell 23.5% from the prior quarter amid a broader market downturn. "Crypto and Web3 have the potential to change the future of the financial system for the better, but we recognize there are still significant hurdles preventing broader adoption" (i.e., the ability to access the technology), Kerbrat added . More on Robinhood Markets Robinhood: Skewed Risk/Reward To The Downside Robinhood: 70% Net Cash And Cancellation Of $500 Million RSUs Robinhood to lift Gold APY to 4.4% in bid to raise recurring fees (Updated)
