Robinhood Adds Support to Send and Receive MATIC on Polygon Network

In partnership with Polygon, retail brokerage Robinhood Markets Inc has enabled transfers. Polygon is the parent company of MATIC. Before its renaming, Polygon was named The Matic Network. On Wednesday, Robinhood announced users could now transfer MATIC tokens on Polygon along with Ethereum. https://twitter.com/RobinhoodApp/status/1565079659288481792

Robinhood To Support MATIC ERC-20 Deposits, Withdrawals

Users of Robinhood were previously only able to transfer a list of supported tokens on the Ethereum blockchain. Due to Polygon’s added support for multi-chain transfers, MATIC can now be withdrawn on two different blockchains. According to the stated agreement, the Robinhood trading platform will support MATIC ERC-20 deposits and withdrawals. Thanks to the support, all qualified Robinhood app users on the queue and those who have access to the WebWallets functionalities can now transfer any MATIC currently available on the app. The Robinhood website claims that, in contrast to other exchanges that impose trading fees, users qualified to use the withdrawal and deposit options also get free trading. Robinhood foundation aims to democratize access to finance for all people worldwide.

MATIC Cryptocurrency’s Robinhood Listing

Although the arrangement is excellent, it doesn’t cover the MATIC cryptocurrency’s Robinhood listing because the exchange already had the cryptocurrency listed as of April 12, 2022. Robinhood, for instance, caters to millions of users. In the cryptocurrency markets, the announcement of the partnership between Polygon and Robinhood has already caused a stir. MATIC/Polygon is already up by about 5% at the time of writing. With a market cap of almost $4.3 billion and a trading volume of more than half a billion, the currency is now worth about $0.54.

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