Robinhood and Arbitrum have announced a collaboration that simplifies the path to Layer 2s (L2s) by giving Robinhood Wallet users access to Arbitrum swaps through decentralized exchanges.
By opening access to Arbitrum’s advanced scaling solutions, Robinhood Wallet users can now take advantage of low transaction costs and fast transaction speeds on one of the most popular networks in the crypto ecosystem. In the coming months, Robinhood and Arbitrum will work together to support access to cross-chain swaps and other campaigns that lower the barriers to use web3 on Robinhood Wallet.
“Ethereum gas fees are an essential part of securing the network, but these same fees can hinder adoption,” said Johann Kerbrat, General Manager of Robinhood Crypto. “Layer 2s like Arbitrum, which is currently the leading chain by total-locked value, help solve this problem for our users. Accessing and transacting on L2s has historically been difficult to non-crypto natives, but Robinhood Wallet now helps strip away the complexities to help onboard those new to web3.”
Robinhood Wallet is a self-custody wallet that serves as a user’s portal to web3 where they can store and manage their crypto on the Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base networks. Robinhood Wallet allows users to hold the private keys to their digital assets, giving them full ownership of their crypto.
The news underscores a joint commitment from Robinhood and Arbitrum to advance DeFi accessibility. With both companies prioritizing continuous innovation and user-centric development, Robinhood Wallet users can anticipate a growing array of features designed to enhance their crypto experience.
