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  • 📱 Robinhood’s Web3 wallet rolls out on iOS

📱 Robinhood’s Web3 wallet rolls out on iOS

Available to users in over 130 countries

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Hey Waivly Crew! 🌊 President Joe Biden may soon have the power to ban Chinese-owned TikTok. Robinhood has launched its Web3 wallet on the Apple App store.

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U.S. inches closer to banning TikTok

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The U.S. House Foreign Affairs Committee voted on Wednesday to give President Joe Biden the power to ban Chinese-owned social media app TikTok.

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Lawmakers voted 24 to 16 to approve the measure giving Biden new powers to ban the ByteDance-owned app, along with other apps considered security risks.

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Michael McCaul, the Republican chair of the committee that sponsored the bill, said: "TikTok is a national security threat ...It is time to act."

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"Anyone with TikTok downloaded on their device has given the CCP (Communist Party of China) a backdoor to all their personal information. It’s a spy balloon into their phone."

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While the bill does not specify how the ban would work, it would give Biden power to prevent anyone in the U.S. from accessing or downloading the app on their phones.

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The vote came days after Canada joined the U.S. in banning TikTok from being installed on all government-issued mobile devices, due to security concerns.

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Crypto Special

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Robinhood’s Web3 wallet is now available globally via the Apple App store, the company announced in a Wednesday blog post.

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The wallet first debuted last September in beta, with Polygon as its first supported blockchain. In January, the company rolled it out to over 1 million users on the waitlist.

Since then, Robinhood has added support for the Ethereum blockchain and more than 50 ERC tokens that can be held and transferred on the self-custody wallet.

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Among the supported tokens include COMP, MATIC, SHIB, SOL, UNI, and USDC.

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These tokens can be swapped with no network fees on Polygon, and users can use them to interact with a wide range of decentralized applications (dapps).

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“Users told us they want access to more coins on more chains, which is why we’ve quickly added support for Ethereum. While we recognize it’s been a tumultuous few months in the crypto space, we remain committed to our mission to make Robinhood the most trusted, lowest cost, and the easiest-to-use on-ramp to crypto,” said Johann Kerbrat, GM of Robinhood Crypto.

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Since the Beta launch, Robinhood Wallet has also added an NFT feature to enable users to view and store their favourite collectibles on Ethereum and Polygon.

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Robinhood said the app is available across 130 countries on the Apple App Store, with support for Android to follow "later this year."‎‎‏‏‎ ‎

Australia central bank sees weak case for a retail CBDC

The Reserve Bank of Australia (RBA) has announced an upcoming pilot phase for its digital version of the Australian dollar, the "eAUD."

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In a joint announcement with Australia’s Digital Finance Cooperative Research Centre, the RBA said it invited a small group of companies to help explore 14 use cases for the eAUD.

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"The pilot and broader research study that will be conducted in parallel will serve two ends—it will contribute to hands-on learning by industry, and it will add to policymakers’ understanding of how a CBDC could potentially benefit the Australian financial system and economy,” the RBA’s Assistant Governor Brad Jones said.

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The RBA’s partners for the pilot projects include the Australia and New Zealand Banking Group Limited (ANZ), Mastercard, Unizon, the Australian Bond Exchange, DigiCash, Commonwealth Bank, and others.

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One project will address facilitating offline transactions using a CBDC. Another will look at using the dollar-pegged USDC stablecoin to streamline foreign exchange trades and remittances.

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The RBA is expected to complete its CBDC pilot, which kicked in August 2022, by mid-2023.

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