Tezos (XTZ) and Aave (AAVE) are now supported by the well-known cryptocurrency trading software Robinhood, allowing users to purchase and sell them on any platform. The trading app’s 18.7 million active monthly users would also be able to swap the recent additions of Solana, Polygon, and Avalanche. Tezos and Ave have been added, bringing the total number of tradeable assets offered by Robinhood to 19. In the shape of a USD Coin, Robinhood also listed its first stablecoin last month.
It is significant to note that Tezos is a proof-of-stake blockchain network. In contrast, Aave is a decentralized lending protocol, and that both native currencies currently supported by Robinhood have a market capitalization of more than $1 billion (approximately Rs. 8,279 crores).
In the shape of the USD Coin, Robinhood also listed its first stablecoin last month. The trading app recently announced the beta launch of its Web3 wallet and invited 10,000 users in the queue to take part in the testing phase. Users may trade cryptocurrencies without paying any network costs thanks to the initiative, which is exclusively accessible on iOS devices. Users can also generate yield by connecting to other decentralized applications.
Johann Kerbrat, CTO and general manager at Robinhood, claims that by removing all potential complications, the wallet makes Web3 more approachable for everyone. Because of Polygon’s “scalability, speed, cheap network fees, and extensive developer environment,” it was chosen as its only blockchain partner. Additionally, Robinhood has revealed that it will feature a multichain wallet and support a wide number of blockchains.
To give users one of the greatest trading experiences possible, Robinhood Wallet leverages the Polygon network because of its scalability, speed, cheap network costs, and vibrant developer environment. Oliver McIntosh, senior product relations manager at Robinhood, stated, “We are delighted to collaborate with Polygon for our inaugural launch and look forward to enabling multichain support in the future.