Robinhood is releasing a new wallet designed for Web3. The current wallets Robinhood users use are custodial, meaning that they are managed on the backend by Robinhood, however, these new wallets will be non-custodial, and entirely powered through Web3.

‎

These new wallets will be similar to that of MetaMask and Coinbase Wallet and give users full control over their private keys and assets. On top of this and being able to trade NFTs on the platform, there is said to be zero.. yes, zero, gas fees.

‎

“At Robinhood, we believe that crypto is more than just an asset class. Our web3 wallet will make it easier for everyone to hold their own keys and experience all the opportunities that the open financial system has to offer.”, Robinhood said in a statement.

‎

The company is aiming to launch a beta version of the wallet this Summer.