Robinhood Collaborates with Layer-2 Arbitrum to Introduce Swapping Capabilities for Users
Robinhood announced during ETHDenver that users of its Robinhood Wallet will now have access to swaps on Arbitrum.
Because Bitcoin
February 29, 2024
A recent CoinDesk report states that Robinhood announced during ETHDenver that users of its Robinhood Wallet will now have access to swaps on Arbitrum, a layer-2 blockchain built on Ethereum.
According to information from a CoinDesk-reviewed press release, Robinhood Wallet users can engage in transactions with Arbitrum, and collaborative efforts over the next few months will focus on enabling access to cross-chain swaps and other initiatives that aim to reduce barriers for Web3 usage on Robinhood Wallet.
A.J. Warner, Chief Strategy Officer at Offchain Labs, the primary developer firm behind the Arbitrum network, commented on the development, stating, "As DeFi continues to thrive on Arbitrum, we'll now see one of the most recognizable trading platforms bring low-cost in-app swaps to a wide audience of traders."
Johann Kerbrat, General Manager of Robinhood Crypto, highlighted the significance of this move, noting that accessing and transacting on layer-2 solutions has historically been challenging for non-crypto natives. However, Robinhood Wallet aims to simplify the process and facilitate the onboarding of individuals new to Web3.
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