Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Robinhood Wallet integrates Arbitrum for token swaps

Robinhood Wallet integrates Arbitrum for token swaps

The BlockThe Block2024/02/29 18:45
By:The Block

Quick Take Robinhood Wallet now lets users swap tokens using Ethereum Layer 2 Arbitrum.

Robinhood Wallet integrates Arbitrum for token swaps image 0

Robinhood Wallet has teamed up with Arbitrum ARB +5.44% to enable token swaps on the largest Ethereum ETH +2.19% Layer 2 network by total value locked.

"By opening access to Arbitrum's advanced scaling solutions, Robinhood Wallet users can now take advantage of low transaction costs and fast transaction speeds on one of the most popular networks in the crypto ecosystem," Robinhood Wallet said Thursday.

Arbitrum swaps had been available in beta for "several weeks" and are now publicly launched today, Johann Kerbrat, general manager of Robinhood Crypto, told The Block. A token swap involves exchanging one token for another directly, without having to convert it into fiat currency first.

Robinhood Wallet also supports Ethereum and Polygon MATIC +2.65% networks for swaps via decentralized exchange aggregators 0x API and LI.FI, according to its website . The wallet doesn't charge service fees on token swaps, per the website. 

Arbitrum has over $14 billion locked in its smart contracts, according to L2Beat data .

Robinhood Wallet

Launched about a year ago, Robinhood Wallet is currently only available for iOS. The Android wallet is currently in beta, with a public waitlist open for registration. It is expected to be officially launched in the coming months, Kerbrat said.

The self-custodial wallet also supports crypto send and receive functions on the Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism and Base networks, according to its website.


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Visionary or 'financial comedy'? Market participants weigh MicroStrategy's stock premium amid bitcoin buying spree

MicroStrategy, with a market cap of around $85 billion, currently holds 331,200 bitcoin worth about $30 billion.The stock’s 440% year-to-date surge has baffled some financial pundits, while others have cheered its corporate strategy.

The Block2024/11/26 19:44

Congress’s top priorities this lame duck session

Here’s a look at what lawmakers are most focused on in these final weeks of the 118th Congress

Blockworks2024/11/26 18:33

BTC breaks through $94,000

Cointime2024/11/26 16:55