Robinhood Wallet integrates Arbitrum for token swaps

Robinhood Wallet partners with Arbitration ARB

+1.08%
to enable token swaps on the largest possible Ethereum ETH

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Layer 2 network locked to total value.

“By providing access to Arbitrum’s advanced scaling solutions, Robinhood Wallet users can now enjoy low transaction fees and fast transaction speeds on one of the most popular networks in the crypto ecosystem,” Robinhood Wallet said Thursday.

Arbitrum swaps have been available in beta for “several weeks” and are now launching publicly today, Johann Kerbrat, managing director of Robinhood Crypto, told The Block. A token swap involves directly exchanging one token for another, without having to first convert it into fiat money.

Robinhood Wallet also supports Ethereum and Polygon MATIC

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networks for swaps through decentralized exchange aggregators 0x API and LI.FI, according to his website. The wallet does not charge service fees for token swaps, according to the website.

Arbitrum has more than $14 billion in its smart contracts, according to L2Beat facts.

Robinhood wallet

Robinhood Wallet was launched about a year ago and is currently only available for iOS. The Android Wallet is currently in beta and there is a public waiting list open for registration. It is expected to be officially launched in the coming months, Kerbrat said.

The self-custodial wallet also supports crypto sending and receiving functions on the Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism and Base networks, according to the website.