The cryptocurrency platform Robinhood Wallet has recently partnered with Arbitrum to offer its users an improved token swapping service. This collaboration with Arbitrum, recognized as the leading Ethereum Layer-2 solution in terms of total locked-in value, promises to bring about faster transactions and reduced costs for Robinhood Wallet customers.
New Partnership Enhances Swap Service
Robinhood Wallet executives declared that through Arbitrum’s sophisticated scaling technology, their users would now be able to swap tokens more efficiently on one of the crypto world’s most renowned networks. The general manager of Robinhood Crypto, Johann Kerbrat, revealed that a beta version of the Arbitrum swaps had been operational for several weeks, and it has just transitioned to full public availability. Token swapping allows users to exchange one cryptocurrency for another without converting to traditional fiat currency.
The Robinhood Wallet is noted for supporting multiple networks including Ethereum and Polygon for swaps, which are executed via decentralized exchange aggregators like 0x API and LI.FI. Additionally, it stands out for not imposing service fees on token swaps.
Expanding Accessibility and Network Support
Having been in service for approximately a year, the Robinhood Wallet is presently accessible to iOS users, with an Android version currently in beta and an open waiting list for sign-ups. Kerbrat indicated that the official launch of the wallet on Android is anticipated in the near future.
The wallet’s capabilities include facilitating the sending and receiving of cryptocurrencies across various networks, such as Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base, making it a versatile tool for crypto traders and enthusiasts.