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- Consensys has partnered with Robinhood to integrate the latter’s Connect platform into MetaMask, the most popular Web3 wallet, allowing easy crypto purchases and self-custody.
- The two have focused on making crypto easy to venture into for novice traders, and with the partnership, customers will enjoy the best of both worlds.
Ethereum incubator and Web3 powerhouse Consensys has announced a new partnership with Robinhood that enables the integration of MetaMask into Robinhood Connect, offering users a seamless channel to purchase crypto and store it in a cutting-edge self-custody solution.
Launched in April last year, Robinhood Connect is a low-cost crypto on-ramp that enables users to top up accounts via debit or bank transfers without needing to leave their dApps or log into their Robinhood Crypto accounts. MetaMask, on the other hand, is the world’s leading non-custodial Web3 wallet with over 30 million users and comes as a browser extension or an app.
Announcing the integration, Consensys and Robinhood said that it will offer users of both platforms “frictionless, secure, and self-custodial onboarding to web3.”
Hello @RobinhoodApp customers 👋! We’re happy to announce that US users will now be able to buy and transfer crypto on MetaMask with Robinhood Connect.
Click below to read more about the integration: https://t.co/A5FoL9EBrq
— MetaMask 🦊🫰 (@MetaMask) February 6, 2024
Under the partnership, Robinhood Connect users can now buy crypto through the Buy Crypto aggregator on MetaMask. This feature allows users to purchase their tokens from a variety of providers, ensuring they get the best offers in the market.
MetaMask and Robinhood Make Crypto Onboarding Easier
The partnership is informed by a survey by Consensys last year, which found that internet users want more active participation and community ownership. The study, involving 15,000 participants, found that four in five internet users want more control over their identity, and two-thirds want more ownership over their online content.
While many understand that blockchain is the solution to these challenges, over 30% said that the complexity of Web3 technology was keeping them at bay. The survey has guided the focus of Consensys, and the company has been working on solving Web3 complexity since. Its partnership with Robinhood is the latest solution.
Lorenzo Santos, the senior product manager at the New York-based software developer, described the partnership as “an exciting step in our shared commitment to reduce friction for users seeking access to a self-custodial option.”
He added:
We know that crypto and internet users want greater control and ownership. This will help more people access crypto in a seamless and self-custodial manner, by offering more buying options with service providers they already use and trust.
Robinhood shares Consensys’ mission of reducing friction, whether it’s with access to traditional stocks or crypto, commented Seong Lee, the head of product at Robinhood Crypto, the stock trading platform’s digital asset arm.
He stated:
Robinhood Connect provides a seamless experience for existing Robinhood customers to fund their self-custody wallet via debit, bank transfer, or Robinhood buying power. This feature allows users to start using their crypto right away.