Robinhood Brings DeFi to Users, Adds 200+ Ethereum and Polygon Tokens
Robinhood will bring DeFi to millions of users in the coming weeks.
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Yesterday, Robinhood, the commission-free trading app with 23M users, introduced in-app swaps for Ethereum and Polygon. In addition, the platform now allows users to hold, send, and accept Bitcoin and Dogecoin.
In a move to bridge the gap between traditional financial services and decentralized finance (DeFi), Robinhood plans to offer users access to decentralized apps and trading over 200 tokens on Ethereum and Polygon. This feature is already available to a limited number of users and will be made available to everyone in the coming weeks.
In a move to bridge the gap between traditional financial services and decentralized finance (DeFi), Robinhood plans to offer users access to decentralized apps and trading on Polygon and Ethereum.
Johann Kerbrat, the General Manager of Robinhood Crypto, said: “With Robinhood Wallet we stripped away many of the complexities of DeFi and the broader Web3 ecosystem, and reduced some of the challenges and barriers to entry for everyday people.”
Central to this advancement is the Robinhood Wallet, a crypto wallet rapidly gaining traction in over 140 countries. In contrast to traditional crypto wallets, Robinhood allows users to trade without holding ETH and pay fees with any token, simplifying onboarding for DeFi users.
The wallet is only available for Apple devices, but it is expected to be released for Android later this year.