Robinhood Adds ‘Connect’ Feature to Link Native Crypto Wallet to Other DeFi Apps

Robinhood has announced a new feature that permits users of its crypto wallet to access their funds from other decentralized finance (DeFi) apps and protocols. According to the update, users no longer have to open the Robinhood app itself to gain access to the platform’s features.

Robinhood confirmed that the immediate plans are to add the new feature to the Solana wallet Phantom and the multi-coin wallet Exodus. At least, for this initial stage. However, it also plans to expand the feature to other applications in the coming months.

Robinhood Wants to Foster Web 3.0 Adoption

Without a doubt, Robinhood has been keen on making DeFi access as seamless as possible for its users. And with the new ‘Connect’ feature, the company might be one step closer to achieving this aim.

Additionally, the company bets big on crypto and Web 3.0 playing a huge role in the future of the financial system. However, it also admits that there is still a long way to go before achieving broader adoption.

As part of its efforts to drive Web 3.0 adoption, Robinhood also announced some other new features. They include a crypto home tab where users can manage their portfolio, price alerts to keep tabs on the prices of crypto assets, and advanced charts to place stop and limit orders.

Meanwhile, Johann Kerbrat, Robinhood’s Crypto General Manager, says the company made these additions with the hopes that they will help to improve customer experience with crypto.  Not only that but it also wants to see these features improve usability and ease of access.

It should be noted that the new ‘Connect’ feature is in line with Robinhood’s earlier promise to fully democratize the financial system for all. More so, since crypto presents arguably the best opportunity for users to diversify their finances and adapt to the Web 3.0 reality.

Robinhood launched its highly-anticipated crypto wallet in January to the waiting hands of over 1 million users.