The launch of ‘Robinhood Connect,’ a fiat-to-crypto on-ramp featuring support for decentralized applications (DApps) and self-custody wallets, was announced at Consensus 2023 on April 27.
Introducing our latest investment in crypto, Robinhood Connect: https://t.co/SmENSYufBA
A low-cost, on-ramp for customers, and a seamless integration for developers. Learn more: https://t.co/rnBnR0LYww pic.twitter.com/6uSIAJkudO
— Robinhood (@RobinhoodApp) April 27, 2023
Positioned as a competitor to similar services such as Coinbase Pay and MoonPay, Robinhood Connect essentially allows users purchase and sell cryptocurrency directly to and from their self-custody wallet or natively in DApps using a credit or debit card.
Robinhood Connect features integration with Web3 projects as developers can embed the service directly into applications. This allows customers to access their Robinhood credentials natively in DApps without having to open the Robinhood website or app separately to log in and conduct transactions.
Currently, the service is only available in the MyDoge, Giddy, and Slingshot ecosystems but upcoming support for Exodus and Phantom has been announced.
Johann Kerbrat, general manager of Robinhood Crypto, explained in a company blog post that the service was developed in hopes of bringing more people into the cryptocurrency space:
“Crypto and…
