Metamask and Robinhood signs a deal allowing Metamask users to purchase cryptocurrencies seamlessly through Robinhood’s Platform.
In a press statement on Tuesday, Consensys, the developers of MetaMask, announced that users of their self-custodial cryptocurrency wallet can now purchase cryptocurrencies through the well-known online trading site Robinhood.
As a result of the integration, users of MetaMask can buy digital assets using Robinhood’s order flow, and users of Robinhood can transfer funds from their Robinhood wallet to their MetaMask wallet.
The offering is a product of MetaMask’s “Buy Crypto” function using Robinhood Connect, the trading platform’s fiat-crypto on-ramp.
To connect the conventional banking system with the cryptocurrency market built on the blockchain, on-ramps are an essential component of the infrastructure. This is why it’s crucial for the onboarding process of web3 applications.
In April, Robinhood introduced its own on-ramp functionality, allowing users to add funds to their crypto wallets directly from within the decentralized app.
“We know that crypto and internet users want greater control and ownership,” stated Lorenzo Santos, senior product manager at Consensys, in the news statement. “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.”
United States-based cryptocurrency exchange Robinhood extended its trading services to the United Kingdom and Europe in December, praising the stringent digital asset laws enacted by the European Union (EU) as a lynchpin for its crypto expansion beyond the United States.
