Trading company Robinhood plans to release a new cryptocurrency wallet focused on decentralized finance (DeFi) by the end of 2022.
Users of the new Web3 wallet will be able to borrow crypto loans, stack digital assets, generate income through yield farming, buy NFTs and work with decentralized exchanges (DEX).
Thus, the new wallet from Robinhood will be a direct competitor to MetaMask.
Testing of the wallet will start in the summer, the waiting list is already open.
Robinhood Crypto technical director Johann Kerbrat said the new wallet will be specifically designed for users looking for “advanced uses” of cryptocurrency.
The company previously released its own custodial cryptocurrency wallet.