MetaMask’s deal with Robinhood expands access to cryptocurrencies

07.02.2024

MetaMask’s standalone cryptocurrency wallet now allows users to buy cryptocurrencies through popular online trading platform Robinhood, MetaMask developer Consensys said in a press release Tuesday.

Through the integration, MetaMask users can buy digital assets using Robinhood’s order flow, and Robinhood account holders can fund and transfer their crypto assets to their MetaMask wallet.

The offering is the result of MetaMask integrating a fiat-cryptocurrency on-ramp trading platform called Robinhood Connect as a service provider into its Buy Cryptocurrency feature.

On-ramps are a key piece of infrastructure that serves as a bridge between traditional banking rails and the blockchain-based crypto economy. Therefore, they play an important role in attracting users to web-3 applications.

Robinhood launched its own on-ramp feature in April as a tool that allows users to fund their crypto wallets without having to leave the decentralized app.

In December, US-based Robinhood expanded its cryptocurrency trading services to the UK and Europe, cementing its crypto expansion beyond the US by touting the comprehensive regulation of digital assets in the European Union (EU).