cryptocurrency

Robinhood Incorporates Polygon (MATIC) Into Their Network

  • MATIC is now available for trading on the Robinhood platform.
  • Robinhood users can use MATIC in the PoS Chain to perform a variety of tasks.

Robinhood, the leading trading platform in the US, has opened the gates for MATIC tokens. MATIC is the original token of the Polygon network, which runs on the PoS mechanism. ribbed Robinhood revealed this update in a blog post on August 31. Robinhood announced this very news on September 1st on its Twitter account.

The switch to use the functionality of Ethereum L2 to the fullest was made by new users. Specifically the fastest transactions and the lowest fees from the Ethereum network. One point to remember is that the new integration into the ETH network is designed to achieve 99.9% sustainability and energy efficiency.

Benefits of MATIC and Robinhood Collaboration

Two-sided collaboration feature for both Polygon and Robinhood. The huge number of Robinhood platform users can now buy, sell and transfer MATIC without paying an additional fee. And from Robinhood’s point of view, the number of cryptocurrencies available on their list is growing.

Because of the collaboration, Robinhood users can use MATIC in the PoS chain to perform a variety of tasks. Such as lending, borrowing, providing liquidity and exchanging against other tokens in the Polygon PoS chain.

At the time of writing, Polygon (MATIC) token is currently trading at $0.8963 with a 6.94% increase in the last 24 hours. The market cap exceeds $7.6 billion and the trading volume is $559 million in the last 24 hours.

Matic Price Chart (Source: CMC)

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