Robinhood Markets Inc. HOOD on Monday expanded its crypto wallet capabilities by introducing support for Bitcoin BTC/USD and Dogecoin DOGE/USD, moving beyond its initial focus on the Ethereum ecosystem.
"All users of Robinhood wallet can now send and receive BTC and DOGE," the firm said through an official communication.
The wallet, which has been operational for half a year, boasts a vast user base spanning 140 nations.
Initially, the wallet was exclusively designed for Ethereum ETH/USD transactions and Ethereum-based tokens, akin to Metamask.
Robinhood acknowledged the growing demand from its clientele for a broader range of assets, prompting this enhancement.
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Additionally, the firm unveiled a swap function for a limited group of users, enabling them to exchange ether for a variety of over 200 assets.
Notably, the wallet permits users to cover Ethereum transaction costs, known as gas fees, using any held tokens, not just Ethereum.
Robinhood anticipates making this swap functionality available to all its users in the near future.
Robinhood's expansion of its wallet capabilities and the introduction of the swap feature underscores the growing demand for diverse cryptocurrency services.
As the digital asset landscape continues to evolve, such developments are expected to be a focal point at the upcoming Benzinga's Future of Digital Assets conference.
The event aims to shed light on the latest trends and innovations in the crypto world, offering attendees insights from industry leaders and a chance to understand the future trajectory of digital assets.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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