Crypto investing platform Robinhood introduced the launch of its self-custody Pockets on Jan. 19.
Robinhood launched Pockets, an İOS app that permits customers to switch and consider owned crypto and NFTs. With a ready checklist of over a million individuals, Pockets is slowly being rolled out.
Set to broaden
Robinhood Pockets solely helps Ethereum (ETH) and Polygon (MATIC) networks at launch, however it’ll broaden to incorporate different blockchains sooner or later. Android help can also be anticipated to launch later this 12 months.
Based mostly on Robinhood CEO Johann Kerbrat’s description of the product, Robinhood Pockets is about to compete with the likes of MetaMask and Phantom. Kerbrat advised Decrypt:
“That is way more than only a pockets—consider the Robinhood Pockets as a ‘browser’ for Web3.”
Kerbrat additionally added that the Pockets is a separate standalone app and provides extra superior options like connecting to dApps and NFT marketplaces — along with offering full self-custody of property.
The recognition of self-custody wallets has elevated all year long 2022. CryptoSlate information from December 2022 revealed that 15 million Bitcoin (BTC) went into self-custody wallets all through 2022 and elevated illiquid BTC provide to 78%.
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