MetaMask integrates with Robinhood to facilitate the purchase of cryptocurrencies from the wallet

Robinhood (HOOD)
  • MetaMask and Robinhood announce strategic alliance
  • The wallet will now serve as an on-ramp for the Robinhood platform
  • This means that MetaMask users can now buy cryptocurrencies via Robinhood from the wallet.
  • As for Robinhood, users will be able to move their cryptocurrencies directly to MetaMask from its interface

MetaMask, the popular cryptocurrency wallet with support for browsers and mobile devices, announced a strategic alliance with the Robinhood platform, with which it will allow its users to buy cryptocurrencies through said service.

MetaMask will serve as an on-ramp for Robinhood

According to information published by various media, the agreement in question involves the establishment of an access ramp between Robinhood and MetaMask, which will allow cryptocurrency purchases through the trading platform, and users of the latter will transfer their crypto assets to the wallet in question.

The possibility of MetaMask becoming an on-ramp for Robinhood is possible thanks to a feature launched in April of last year by the platform, which allows users to deposit funds into the service without having to close or exit the app. , all from the same interface when linking with an external wallet.

In relation to this integration, the senior product manager for ConsenSys, Lorenzo Santos, indicated:

We know that cryptocurrency and internet users want greater control and ownership. This will help more people access cryptocurrencies seamlessly and self-custodially by offering more purchasing options with service providers they already use and trust.

MetaMask and Robinhood advance

Although the alliance mutually benefits both services, separately, each of these has been taking important steps in recent weeks.

From the MetaMask side, the entity recently reported that interested parties can now become validators of the Ethereum network directly from the wallet, for which they will be able to stake their ETH and thus derive the associated profits for each processed block.

On the Robinhood side , the company also experienced a notable trading boom following the arrival of Bitcoin ETFs in the US market, given that these products can be traded within its trading platform. Days ago, the director of the brokerage area for the service, Steve Quirk, revealed that BlackRock‘s fund was the most popular among its users.

At the beginning of last December, Robinhood announced its formal entry into the European market after opening operations in the United Kingdom.