- Trading platform Robinhood has enabled sending and receiving MATIC on the Polygon Network.
- Robinhood plans for a multichain Web3.0 wallet that allows users to trade without any fees.
- Robinhood CEO shares the platform plans to allow DeFi protocol access and let users store NFTs on decentralized marketplaces.
Retail brokerage platform Robinhood Markets Inc announced on Twitter that they now support MATIC transfers on the Polygon network.
Hey! You can now send and receive MATIC on the @0xPolygon network in addition to the @ethereum network. Support for more cryptocurrencies on more networks coming soon.
— Robinhood (@RobinhoodApp) August 31, 2022
In addition to being able to send and receive MATIC on the Polygon network, the Twitter account also shared further information on adding cryptocurrency support on more platforms.
The community met the news of the new crypto offering on the Robinhood app with excitement, and only in a matter of days, the asset shot from a lower $0.64 to $0.94. MATIC Founder Mihailo Bjelic also shared on Twitter that the collaboration is the first step in building the infrastructure for mainstream adoption of Polygon and Ethereum.
The incorporation is expected to advance the user experience on Robinhood. Robinhood users were limited to only a few support tokens on the Ethereum network before MATIC implementation. With the added multi-chain transfer support, users can withdraw MATIC on two blockchain networks of their choice.
Moreover, Robinhood also plans to create a standalone multi-chain Web3.0 wallet that enables non-custodial features, plus the opportunity to trade crypto without having to pay any network fees.
Robinhood Chief Executive Office (CEO) Vlad Tenev stated previously, “We’ve all seen crypto winters and crypto summers. Many of the protocols and products we’re talking about today were built during the last crypto winter.”
Tenev shared that the vision for Robinhood’s future includes easy access to DeFi protocols for users, and, allowing users to store NFTs on decentralized marketplaces alongside sustaining absolute control over their coins.
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