Consensys and Robinhood Launch Integration of Robinhood Connect with MetaMask for Frictionless Crypto Purchases
Consensys, a prominent blockchain and web3 software company, alongside Robinhood Markets, Inc (NASDAQ: HOOD), has introduced the integration of Robinhood Connect with MetaMask, the world’s leading self-custodial web3 wallet.
This collaboration enables customers to purchase crypto through Robinhood’s low-cost order engine using MetaMask’s Buy Crypto feature, aiming to advance the adoption of web3 by offering more users seamless, secure, and self-custodial onboarding to web3.
Self-custodial solutions like MetaMask empower crypto users with complete control over their digital assets.
By merging two leading platforms in web3 and financial technology, Robinhood customers can now leverage Robinhood Connect to buy crypto through MetaMask’s Buy Crypto aggregator, facilitating easy access to crypto from various providers.
Lorenzo Santos, Senior Product Manager at Consensys, commented on the integration, stating, “The integration between MetaMask and Robinhood is an exciting step in our shared commitment to reduce friction for users seeking access to a self-custodial option. We know that crypto and internet users want greater control and ownership. 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.”
Seong Lee, Head of Product at Robinhood Crypto, emphasized Robinhood’s mission to minimize friction for web3 adoption, saying, “Robinhood Connect provides a seamless experience for existing Robinhood customers to fund their self-custody wallet via debit, bank transfer, or Robinhood buying power. This feature allows users to start using their crypto right away.”
A 2023 global survey conducted by Consensys revealed a notable shift in internet user behavior towards active participation, empowerment, and broader community ownership.
The survey found that 79% of respondents desire more control over their internet identity, and 67% believe they should own the things they create online.
However, a significant portion cited the complexity of web3 technology as a barrier to entering the crypto ecosystem.
Consensys interprets these findings as indicative of a fundamental change in the desired relationship between users and the platforms they engage with, underscoring the importance of simplifying access to self-custodial services for crypto users.