Robinhood now permits transferring MATIC on Polygon community as firm continues to embrace Web3
Buying and selling app Robinhood announced that its customers can now ship and obtain MATIC token on the Polygon community on prime of the Ethereum community.
The corporate’s prospects can lend, borrow and swap MATIC for different tokens and supply liquidity on the proof-of-stake chain. The corporate says that it’ll allow help for added cryptocurrencies on extra networks within the close to future.
As reported by U.Right now, Robinhood listed Stellar (XLM) and Avalanche (AVAX) in early August. Previous to that, it additionally enabled help for Polygon (MATIC), Solana (SOL) and Shiba Inu (SHIB).
The corporate has famous that sending crypto on the Ethereum community has develop into “more and more” costly on account of rising gasoline charges. The Polygon community makes it doable to discover Web3 with a lot decrease gasoline charges whereas making the most of quicker transactions.
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Polygon is a well-liked Layer 2 scaling resolution for the Ethereum community that depends on sidechains for reaching quicker and cheaper transactions. In June, it made an announcement about reaching carbon neutrality by offsetting the carbon footprint of all transactions.
The native MATIC token is presently in twelfth place by market capitalization, in line with CoinMarketCap.
As reported by U.Right now, Polygon introduced that its scaling resolution referred to as Avail went reside on the testnet.
Final month, Robinhood revealed that its Web3 pockets waitlist surpassed one million customers.
Earlier this 12 months, the favored buying and selling app allowed its customers to deposit and withdraw cryptocurrencies.
