Robinhood Introduces MATIC Withdrawals And Deposits On Polygon

In addition to the Ethereum network, the trading software Robinhood just revealed that its users can now transfer and receive MATIC token on the Polygon network.

Customers of the business have the ability to lend, borrow, and trade MATIC for other tokens while also supplying liquidity on the proof-of-stake chain. According to the startup, support for new networks and additional cryptocurrencies will soon be enabled.

Robinhood listed Avalanche (AVAX) and Stellar (XLM)

Early in August, Robinhood listed Avalanche (AVAX) and Stellar (XLM). Prior to that, it enabled support for Shiba Inu, Polygon (MATIC), and Solana (SOL) (SHIB). The business has noticed that the cost of delivering cryptocurrency across the Ethereum network has “increasingly” increased as a result of rising gas prices.

By utilizing speedier transactions, the Polygon network enables Web3 exploration at significantly cheaper gas costs.

For the Ethereum network, Polygon is a well-liked Layer 2 scaling solution that uses sidechains to enable quicker and less expensive transactions. It announced in June that it would become carbon neutral by offsetting all transactions’ carbon footprints. By market capitalization, the native MATIC coin is presently in position 12.

Avail, a scalability solution by Polygon, went live on the testnet, according to an announcement. The Web3 wallet queue for Robinhood was discovered to have more than one million users last month. The well-known trading app started allowing cryptocurrency deposits and withdrawals earlier this year.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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