When it comes to cryptocurrencies, alongside exchanges like Binance and Coinbase, the Robinhood exchange has been frequently mentioned, especially with the recent major DOGE movements, and an important development has just occurred on the Robinhood Wallet side.
Arbitrum Collaboration Arrives
Robinhood Wallet has announced a collaboration with Arbitrum, the largest Ethereum Layer-2 project by total value locked (TVL) as of the time of writing, to enable token swaps through its platform.
Officials at Robinhood Wallet stated on Thursday:
By accessing Arbitrum’s advanced scaling solutions, Robinhood Wallet users can now benefit from low transaction costs and high transaction speeds on one of the most popular networks in the crypto ecosystem.
According to Johann Kerbrat, the general manager of Robinhood Crypto, there has been a beta version of Arbitrum swaps for “a few weeks,” and as of today, it has started operating publicly. Token swapping involves exchanging one token directly for another without first converting it to fiat currency.
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AAPLAccording to the website, Robinhood Wallet also supports Ethereum and Polygon networks for swaps through decentralized exchange aggregators 0x API and LI.FI. The website also states that the wallet does not charge a service fee for token swaps.
About Robinhood Wallet
Robinhood Wallet, which started operations about a year ago, is currently available on iOS. The Android wallet is still in beta and offers an open waiting list for registration. According to Kerbrat, the wallet is expected to be officially launched in the coming months.
According to the website, the wallet supports sending and receiving crypto on networks including Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base.
