Arbitrum and Robinhood Partnership Ushers in New Era for Decentralized Finance Swaps
Arbitrum and Robinhood Partnership Ushers in Novel Period for Decentralized Finance Swaps
Ethereum scaling solution Arbitrum has partnered up with purchasing and selling app huge Robinhood to boom a fresh token swap integration in Robinhood’s self-custody pockets.
The corporations made the joint announcement the day past on the ETHDenver conference.
The fresh integration lets Robinhood Wallet users transact with Arbitrum. Within the coming months, the two corporations will present give a snatch to for several sinful-chain token swaps that can faucet the layer 2 for its low-charge transaction charges and high speeds.
Robinhood Wallet launched a year ago for iOS as a self-custodial pockets, that manner it lets users have their very have non-public keys. Its Android equal is unruffled in beta and ought to elephantine commence soon.
The pockets currently helps funds on the Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism and Scandalous networks.
Robinhood’s General Supervisor Johann Kerbrat said in a press express: “having access to and transacting on L2s has traditionally been complex to non-crypto natives, however Robinhood Wallet now helps strip away the complexities to again onboard these fresh to web3.”
A.J. Warner, the Chief Strategy Officer at Arbitrum builders Offchain Labs also said within the commence: “As DeFi continues to lead on Arbitrum, we’ll now peek one among basically the most recognizable purchasing and selling platforms affirm low-charge in-app swaps to a giant viewers of merchants.”
Past Arbitrum, Robinhood Anticipates Further Adoption
Robinhood clearly expects its crypto operations to assemble larger further. In December, the favored purchasing and selling app launched commission-free crypto purchasing and selling for its EU possibilities.
The corporate also leapt on the opportunities provided to it by the January 10 commence of 11 enviornment Bitcoin ETFs by checklist all of them on its app.
Earlier this month, Robinhood launched a partnership with Metamask. It offers US users the flexibility to real now aquire crypto on Robinhood through their Metamask apps.
In an earnings name mid-February, the purchasing and selling app declared its transactions-essentially based completely revenues in Q4 2023 rose 8% in contrast to the same quarter the earlier year. The corporate attributed this to an uptick (10%) in cryptocurrencies revenue—$43 million within the quarter.
This week Robinhood launched an NFT giveaway in collaboration with Significant.art. Robinhood Wallet users can participate to procure exclusive art by American artist Hunt Slonem.
Source : cryptonews.com
