US company Robinhood has released its Web3 wallet on the Apple App Store for iOS users in more than 130 countries. The company also said the product will soon be available on Android.
In September 2022, Robinhood announced the release of a beta version of its wallet, allowing users to access the Ethereum blockchain and Polygon network. Moreover, this wallet offers users more than 50 ERC-20 tokens, which they can buy, sell and store.
Johann Kerbrath, head of Robinhood Crypto, noted that Ethereum support was developed in response to customer demand for access to more digital assets. With the introduction of the beta, an NFT feature was added, giving users the ability to purchase and store their preferred digital items based on Ethereum and Polygon.
A Robinhood representative said that NFTs received through their platform would not be affected by Apple's 30 per cent commission on mobile apps and digital goods and services. In addition, it was noted that users would need either Face/Touch ID or a pin code for authentication, as well as the creation of a confidential recovery phrase. They also suggested that users would be able to create a backup of their wallet and protect it offline without any help from Robinhood. However, some doubts were raised by people such as Reddit's StamInBlack, who was not happy with the possibility of storing sid-phrase in iCloud.