Polygon (MATIC) and Robinhood Wallet have joined forces to enable users to conduct cross-chain swaps using Polygon’s proof-of-stake network (PoS). This collaboration, unveiled on April 27, 2024, utilizes LI.FI and 0x Project technologies, making token swapping across different blockchain networks effortless. As a result, Robinhood’s 23 million users now have enhanced trading capabilities.
The partnership not only benefits Robinhood users but also showcases Polygon’s growing influence in the blockchain industry. Despite an initial underperformance in MATIC pricing during Q2, the platform’s appeal remains strong thanks to these technology integrations.
Robinhood has consistently been at the forefront of improving its services. In December 2023, it expanded cryptocurrency trading to the European Union and added all spot Bitcoin ETFs. The integration of cross-chain exchange capability is expected to increase user engagement on both platforms. This partnership solidifies Polygon’s position as a leader in blockchain technology and enables Robinhood to offer a wider range of services.
Over the past month, Polygon has emerged as the frontrunner in NFT transactions on the Ethereum Virtual Machine. This significant advancement demonstrates its dominance in the NFT industry and greatly enhances its operations.
Polygon also achieved a noteworthy milestone in stablecoin usage, further establishing its strength. With 1.9 million on-chain stablecoin users, compared to Ethereum and Arbitrum’s 1.4 million users, Polygon’s robust infrastructure and user trust continue to attract a growing user base.
In other crypto news, a former Grayscale Director predicts a potential drop in Bitcoin price to $52K.