Robinhood May Add DeFi and NFT Support

Robinhood executives said the launch of a cryptocurrency wallet is just the first step, and soon users will have more options to interact with the industry, including DeFi and NFT.

Last week, the Robinhood platform began testing the cryptocurrency wallet and announced that the full rollout of the functionality is scheduled for the first half of 2022. Robinhood COO Christine Brown hinted at the Messari Mainnet conference that she would like to allow Robinhood customers to explore DeFi.

“We would like to provide our clients with more opportunities that would make cryptocurrency a useful tool in their daily life, and not just an investment asset,” said Brown.

Back in May, she said the company was considering supporting staking, lending, and other decentralized finance instruments. Also speaking at the conference was Robinhood CTO Johann Kerbrat, whose comments confirmed Brown’s words.

“We can’t say much about our roadmap, but overall I’m especially excited about the possibility of adding staking,” Kerbrat said. “When we talk about rising inflation and savings accounts that are not making any profit, I think staking can be very interesting for a lot of people.”

Brown hinted that Robinhood could add NFT trading if customers want it. “If you want to buy coins without commission and buy NFTs, we will support that,” she said.

Even after the crypto wallet is launched in the app, people will still be trading on the platform, as it is the first cryptocurrency marketplace for many clients, according to Robinhood’s COO, Robinhood’s COO.

“Many [клиенты] did not make transactions on the network, ”she said. “So the idea of ​​managing their own keys may not be that interesting to them. But the app will have the best of both worlds. A cryptocurrency wallet is just the first step. We want customers to use their coins to actively interact with the cryptocurrency industry. ”