Robinhood Pockets customers will be capable of swap tokens on Arbitrum-based DEXs.
Standard buying and selling app Robinhood and Arbitrum are teaming as much as simplify entry to Layer 2 networks (L2s) by providing Robinhood Pockets customers the flexibility to swap tokens by decentralized exchanges on Arbitrum. The collaboration was unveiled immediately at ETHDenver.
Robinhood Pockets customers can now profit from decrease transaction prices and sooner transaction speeds on the main L2 with over $12 billion in whole worth locked. ARB briefly spiked 10% on the information earlier than retracing to $2.02.
“Ethereum gasoline charges are a necessary a part of securing the community, however these identical charges can hinder adoption,” stated Johann Kerbrat, Common Supervisor of Robinhood Crypto. “Layer 2s like Arbitrum…assist resolve this downside for our customers.
“This collaboration pushes web3 democratization ahead and is poised to empower customers to additional discover the potential of web3 in finance,” stated A.J. Warner, Chief Technique Officer at Offchain Labs, the corporate that developed Arbitrum.
Robinhood Pockets is a self-custody pockets that enables customers to retailer and handle their digital belongings on a number of blockchains, together with Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base.
The partnership marks a major step in the direction of making Layer 2 options extra accessible and user-friendly, doubtlessly driving the broader adoption of DeFi.
