MetaMask Deal With Robinhood Broadens Crypto Access

Self-custodial crypto wallet MetaMask now lets users buy cryptocurrencies through the popular online trading platform Robinhood, MetaMask developer Consensys said in a press release Tuesday.

With the integration, MetaMask users can purchase digital assets using Robinhood's order flow, while Robinhood account holders can fund and transfer their crypto assets to their MetaMask wallet.

The offering is a result of MetaMask integrating the trading platform's fiat-crypto on-ramp called Robinhood Connect as a service provider in its "Buy Crypto" feature.

On-ramps are a key piece of infrastructure serving as a bridge between traditional banking rails and blockchain-based crypto economy. Because of this, it plays an important role to onboard users to web3 applications.

Robinhood rolled out its own on-ramp feature in April as a tool for users to fund their crypto wallets without having to leave a decentralized application.

"We know that crypto and internet users want greater control and ownership," Lorenzo Santos, senior product manager at Consensys, said in the press release. "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."

In December, U.S.-based Robinhood expanded its crypto trading services to Europe, anchoring its crypto expansion outside of the U.S. by touting the European Union's (EU) comprehensive digital asset regulations.