Robinhood Expands into DeFi with Ethereum Swaps
Robinhood, known for its stock-trading platform, is diving into decentralized finance (DeFi) by adding Ethereum swap capabilities to its wallet. This move enhances the functionality of Robinhood Wallet as it transforms into a more complex financial ecosystem.
- Robinhood Wallet gains popularity with hundreds of thousands of users across 140 countries.
- The platform initially supported Polygon and Ethereum networks, but now also supports Bitcoin and Dogecoin.
- Ethereum swaps are the most notable feature, allowing users to easily swap Ethereum-based tokens without needing to hold ETH.
- Network fees for swaps are automatically deducted from the tokens users hold.
- Robinhood aims to simplify access to DeFi and reduce barriers for everyday users.
The General Manager of Robinhood Crypto, Johann Kerbrat, emphasizes the company’s goal to simplify DeFi and lower entry barriers for users. Robinhood also prioritizes security by requiring authentication and providing users with full control over their crypto assets.
By
By
By
By
By
By