Robinhood launched Beta Version Web3 Wallet for 10K Users 

• Robinhood came up with a Beta Version of their Web3 Wallets. 
• Robinhood and Circle pay came together to better the Robinhood ecosystem. 

On 27 September, Tuesday, Robinhood informed that it would launch the Beta version of its Web3 Wallet, permitting users to swap assets on its non-custodial wallets.

The Beta version of Robinhood Wallet is only launched for 10K Users. 

Johann Kerbrat, while talking to a crypto news outlet, mentioned that the wallet would allow users to trade over 20 cryptocurrencies supported by decentralized exchange(DEX) aggregator 0x without fees. The wallets will allow users to connect with daaps and facilitate earning interest on digital assets.    

Robinhood has been making steady progress over the past year in enhancing its crypto product and distancing itself from its original “walled garden” approach. In May, a month after launching its first crypto wallet for over two million users, it opened its waiting list for the beta of Web3 Wallet.  

Robinhood listed USDC for traders last week, ahead of the wallet’s beta release. Kebrat said that the reason behind the listing was to coincide with the wallet releases as it will help provide new users with a token that is easy for trading with a fear of volatility.

On 29 September 2022, Circlepay and Robinhood collaborated to bring USDC to Robinhood users. Users can now buy/sell USDC on Robinhood crypto, transfer/spend & swap USDC on the new Robinhood Wallet and soon access exclusive educational modules to earn USDC rewards.  

In August, Robinhood CEO Vladimir Tenev said that more than one million people wanted early access to the retail trading platform’s Web3 wallet. Robinhood has had a difficult year, firing 9 percent of its employees in April and 23 percent in August.