Fintech company Robinhood will issue a beta version of its non-custodial digital asset wallet to 10,000 iOS customers on its waitlist. First, the company revealed the plans for launching a wallet in May.
Related: Robinhood to Purchase UK-based Crypto Group Ziglu
The Chief Technical Officer of the platform, Johann Kerbrat tweeted that Polygon will be the first supported blockchain. The wallet has a mission to offer users to trade and swap cryptos without fees.
Kerbrat says the wallet removes complexities of web3 and Decentralized Finance to make cryptocurrencies more accessible to people.
Robinhood published a blog post saying they chose Polygon for its scalability, speed, reduced fees, and advanced developer tools. Recently, the app also launched support for deposits and withdrawals on Polygon to enable users to buy the network's native token MATIC on Robinhood and move it over their crypto wallet.
The release mentions that Robinhood Wallet will allow viewing NFTs and connecting to NFT marketplaces when it goes live for the general public.