Robinhood partners with Arbitrum to optimize swaps on Web3 wallets

php editor Apple reports: Robinhood cooperates with Arbitrum to optimize swaps on Web3 wallets. This cooperation will provide users with a faster and more convenient digital asset trading experience, making it easier for users to trade and manage cryptocurrency. Arbitrum’s Layer 2 scaling solution will bring higher transaction throughput and lower fees to Robinhood’s users, further improving the performance and user experience of Web3 wallets.

Online stock and cryptocurrency brokerage Robinhood has partnered with the management team of Ethereum-based layer 2 network Arbitrum to provide its wallet users with exchange services based on the protocol.

According to a media release, the two companies announced the strategic collaboration at the ETHDenver 2024 event in Colorado on February 29, saying that the collaboration will simplify the path to Layer 2 networks.

Robinhood wallet uses Arbitrum for token trading

Robinhood wallet users will be able to take advantage of the low cost and fast transaction speeds of Arbitrum’s scaling solution. The teams are working to support cross-chain swaps in the coming months.

Robinhood Crypto General Manager Johann Kerbrat commented on the development: “Ethereum gas fees are an important part of securing the network, but these fees may hinder market adoption. Second-layer networks such as Arbitrum, currently the chain with the highest total locked value, help solve our This problem from users.

Accessing and transacting on L2 has historically been difficult for non-native cryptocurrency usage, but Robinhood Wallet can now simplify the complexity and help onboard users who are new to Web3. ”

As a self-hosted crypto wallet, Robinhood Wallet provides users with a platform that allows them to store and manage their assets on multiple networks, including Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism and Base, while retaining its private keys and fully owning its tokens.

Improve users’ accessibility to DeFi

Enabling trading of Arbitrum tokens through decentralized exchanges is part of Robinhood and Arbitrum’s shared commitment to increase user accessibility to decentralized finance. Robinhood Wallet recognizes the diverse needs of its user base and plans to integrate a variety of features to accommodate different levels of experience.

A.J., chief strategy officer at Offchain Labs, developer of the Arbitrum network. Warner said:

“The addition of Robinhood Wallet to the Arbitrum ecosystem is an exciting time for the community. As DeFi continues its leadership on Arbitrum, we will see one of the most visible trading platforms available to the masses. Traders brings a low-cost in-app exchange experience.

This cooperation promotes the democratization of web3 and prepares users to further explore the potential of web3 in the financial field. ”

The above is the detailed content of Robinhood partners with Arbitrum to optimize swaps on Web3 wallets. For more information, please follow other related articles on the PHP Chinese website!