• Robinhood has launched a wallet application on the iOS App Store.
• Users can earn up to 5 USDC if they transfer $10 from Robinhood Crypto or 1 USDC if they use another wallet for the transfer.
• The app currently supports Polygon (MATIC) and Ethereum (ETH) networks, with the expectation to increase the number of supported chains in the future.
Robinhood Launches Wallet App For iOS
Robinhood, a popular crypto exchange platform, has released its self-custody wallet application for iOS users. Allowing users to store their digital assets and swap them with no network fees on Polygon, this new application is available globally except in the Cayman Islands.
How To Earn Rewards With The App
Users have an opportunity to earn rewards while using this app – they can get up to 5 USD Coin (USDC) if they transfer $10 from their Robinhood Crypto wallets; or claim a one-time reward of 1 USDC for initiating the transfer from another wallet or exchange.
Supported Assets And NFTs
At launch, Robinhood’s wallet application supports Polygon (MATIC) and Ethereum (ETH) networks, with more expected in the future. It also supports NFTs on MATIC and ETH chains.
Investigative Subpoena From SEC
The launch follows news that Robinhood received an investigative subpoena from the U.S. Securities and Exchange Commission concerning cryptocurrency listings, crypto custody practices, and platform operations. If found guilty of not complying with securities regulations, Robinhood could face sanctions as well as regulatory penalties and compensation payouts to its users.
Over 130 Countries Have Downloaded The App So Far
The app was first released to a limited number of users on Jan 19th but now it has been downloaded by over 130 countries worldwide; including those who were registered on its waitlist prior to launch.