Robinhood Wallet and Arbitrum Team Up to Expand Access to Layer 2s
As part of the collaboration, Robinhood Wallet announces access to swaps on the Arbitrum network
Today at ETHDenver, Robinhood and Arbitrum announced a collaboration that simplifies the path to Layer 2s (L2s) by giving Robinhood Wallet users access to Arbitrum swaps through decentralized exchanges.
By opening access to Arbitrum’s advanced scaling solutions, Robinhood Wallet users can now take advantage of low transaction costs and fast transaction speeds on one of the most popular networks in the crypto ecosystem. In the coming months, Robinhood and Arbitrum will work together to support access to cross-chain swaps and other campaigns that lower the barriers to use web3 on Robinhood Wallet.
“Ethereum gas fees are an essential part of securing the network, but these same fees can hinder adoption,” said Johann Kerbrat, General Manager of Robinhood Crypto. “Layer 2s like Arbitrum, which is currently the leading chain by total-locked value, help solve this problem for our users. Accessing and transacting on L2s has historically been difficult to non-crypto natives, but Robinhood Wallet now helps strip away the complexities to help onboard those new to web3.”
“Adding Robinhood Wallet into the Arbitrum ecosystem is an exciting moment for the community.” said A.J. Warner, Chief Strategy Officer, Offchain Labs. “As DeFi continues to lead on Arbitrum, we'll now see one of the most recognizable trading platforms bring low-cost in-app swaps to a wide audience of traders. This collaboration pushes web3 democratization forward and is poised to empower users to further explore the potential of web3 in finance.”
Robinhood Wallet is a self-custody wallet that serves as a user's portal to web3 where they can store and manage their crypto on the Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base networks. Robinhood Wallet allows users to hold the private keys to their digital assets, giving them full ownership of their crypto.
Recognizing the diverse needs of its user base, Robinhood Wallet is committed to integrating features that accommodate varying levels of crypto experience ranging from entry-level to more knowledgeable participants. This includes building intuitive, easy-to-understand user interfaces for beginners, as well as advanced tools for more experienced users.
Today’s news underscores a joint commitment from Robinhood and Arbitrum to advance DeFi accessibility. With both companies prioritizing continuous innovation and user-centric development, Robinhood Wallet users can anticipate a growing array of features designed to enhance their crypto experience.
To learn more and download Robinhood Wallet visit Robinhood.com/web3-wallet/.
Disclosures:
Self-custody cryptocurrency wallet and related services are offered through Robinhood Non-Custodial, Ltd., a limited company organized in the Cayman Islands, and other third-party providers. Cryptocurrency held through the Robinhood Self-Custody Wallet is not FDIC insured or SIPC protected. Availability may be subject to regulatory approval in certain jurisdictions.
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