Exchange News- MATIC is now available for trading on the Robinhood platform.
- Robinhood users can utilize MATIC on the PoS chain to perform a variety of tasks.
Robinhood, the leading trading platform in the US has now opened gates for MATIC tokens. MATIC is the native token for the Polygon network, which functions on the PoS mechanism. Polygon revealed this update in a blog on 31st Aug. Robinhood announced this particular news on 1st Sept on their Twitter account.
Hey! You can now send and receive MATIC on the @0xPolygon network in addition to the @ethereum network. Support for more cryptocurrencies on more networks coming soon.
— Robinhood (@RobinhoodApp) August 31, 2022
The shift was made to utilize the Ethereum L2 functionalities to the fullest by new users. Specifically the faster transactions and the lower fees than the Ethereum network. A point to remember is the new merge in the ETH network is designed to achieve 99.9% sustainability and energy efficiency.
Benefits of MATIC and Robinhood Collaboration
The advantage of collaboration is two-sided for both Polygon and Robinhood. The vast number of users of the Robinhood platform can now buy, sell and transfer MATIC without the payment of additional charges. And from Robinhood’s point of view, the number of cryptocurrencies available on their list is increasing.
Because of the collaboration, users of Robinhood can utilize MATIC on the PoS chain to carry out a variety of tasks. Such as lending, borrowing, providing liquidity, and exchanging for other tokens on the Polygon PoS chain.
At the time of writing, the Polygon token(MATIC) is currently trading at a $0.8963 price value with a 6.94% increase in the last 24 hours. The market cap is over $7.6 B and the trading volume is $559 M in the last 24 hours.
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Source: https://thenewscrypto.com/robinhood-integrates-polygon-matic-in-their-network/