Popular crypto trading app Robinhood has announced support for Tezos (XTZ) and Aave (AAVE), which means users can buy and sell them on any of its platforms. The 18.7 million active monthly users on the trading app will also have the option to trade Solana, Polygon and Avalanche, which were added this year. With the addition of Tezos and Aave, Robinhood now offers a total of 19 assets to trade. Robinhood last month listed its first stablecoin as USD Coin.
it is important to note that come is a decentralized lending protocol whereas Tezos is a proof-of-stake blockchain network and both these native tokens which are now backed by Robinhood have a market capitalization of over $1 billion (about Rs 8,279 crore).
Last month, Robinhood also listed first stablecoin In the form of USD coins. The trading app also recently announced that it has launched its beta web3 wallet and allowed 10,000 waitlisted customers to participate in the trial phase. The project is only available on iOS devices and allows users to trade crypto without paying any network fees. By connecting to other decentralized applications, users can also earn yields.
According to Robinhood’s CTO and General Manager Johan Kerbret, the wallet makes web3 More accessible to everyone by eliminating all possible complications. Polygon was chosen as its exclusive blockchain partner due to its “scalability, speed, low network fees and strong developer ecosystem”. Robinhood further revealed that it will become a multichain wallet and will support a large number of blockchains.
“The advantage of the Polygon Network is the strong infrastructure Robinhood Wallet provides for its scalability, speed, low network fees and strong developer ecosystem to provide the best trading experience for clients. We are looking forward to our initial launch at Polygon. We are excited to partner with you and look forward to offering multichain support in the future.” Told Robinhood Senior Product Communications Manager Oliver McIntosh.