Robinhood developing non-custodial crypto wallet launching later this year
A little over a month after Robinhood publicly released its first crypto wallet, the company has announced it’s working on a second. The new wallet will be non-custodial, giving users sole custody over the private keys necessary to control their money on the blockchain. That means users won’t be dependent on Robinhood if the system fails but will also risk losing their funds entirely if they misplace the private key.
Robinhood says the new wallet will be offered as a standalone app but hopes that it will “feature the same simple and accessible design” as its main service. The wallet will offer the ability to store and trade cryptocurrencies, including many not available through the main Robinhood app with “no network fees” and will...