Developer Consensys of MetaMask, a self-custodial cryptocurrency wallet, announced in a news release on Tuesday that users can now purchase cryptocurrencies using the well-known online trading platform Robinhood.Through the integration, holders of Robinhood accounts can fund and move their cryptocurrency holdings to their MetaMask wallets, while MetaMask users can buy digital assets utilizing Robinhood’s order flow.
The offering is a result of MetaMask integrating the trading platform’s fiat-crypto on-ramp called Robinhood Connect as a service provider in its “Buy Crypto” feature.
An essential piece of infrastructure, on-ramps act as a link between the blockchain-based crypto economy and the conventional financial system.As a result, it’s crucial for integrating users with web3 applications.In April, Robinhood launched its own on-ramp functionality, allowing users to fund their cryptocurrency wallets inside of a decentralized app.
“We know that crypto and internet users want greater control and ownership,” Lorenzo Santos, senior product manager at Consensys, said in the press release. “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.”
The U.S.-based Robinhood extended its cryptocurrency trading services to the United Kingdom and Europe in December, citing the EU’s extensive digital asset rules as the cornerstone of its international crypto expansion.