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Robinhood Adds Support For MATIC Transfers On Polygon Network

Published 01/09/2022, 01:40
Updated 01/09/2022, 02:40
© Reuters. Robinhood Adds Support For MATIC Transfers On Polygon Network
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Retail brokerage Robinhood Markets Inc (NASDAQ: NASDAQ:HOOD) has enabled transfers on the Polygon (CRYPTO: MATIC) network.

What Happened: Robinhood said on Wednesday that users would be able to send and receive MATIC tokens on Polygon in addition to Ethereum (CRYPTO: ETH).

Until recently, Robinhood users could only transfer a list of supported tokens on the Ethereum blockchain. The added support for multi-chain transfers on Polygon means that MATIC can be withdrawn on two blockchains as per the user’s choice.

Earlier this year, Robinhood unveiled plans for a multichain Web3 wallet that includes non-custodial features and the ability for users to trade and swap crypto with zero fees.

Robinhood CEO Vlad Tenev had said the platform would let users easily access DeFi protocols and store NFTs on decentralized marketplaces while maintaining full control over their coins.

“We’ve all seen crypto winters and crypto summers. And many of the protocols and products we’re talking about today were built during the last crypto winter,” said Tenev at the time.

See Also: HOW DOES ROBINHOOD MAKE MONEY?

Price Action: Robinhood shares were trading 0.94% lower after hours on Wednesday, according to data from Benzinga Pro.

ETH was trading at $1,550 at press time, up 1% over the last 24 hours, while MATIC was trading at $0.832, up 2.04%.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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