Robinhood introduced support for swaps on Arbitrum in February.<\/p>\n
Robinhood, a commission-free trading platform, is launching gas-free trading on Arbitrum, the largest Ethereum Layer 2 network by TVL.<\/p>\n
Robinhood launched the feature on May 23, allowing users to execute gasless trades on the Arbitrum network via Robinhood Wallet. 0x, a decentralized exchange protocol, will provide decentralized exchange aggregation services for Robinhood.<\/p>\n
Robinhood said 0x will provide traders with the best price quote\u00a0available to traders. Users can also route trades incurring gas fees should they offer a better price than gasless trades.<\/p>\n
\u201cUsers can swap without needing ETH for gas on Arbitrum, with 0x as the DEX aggregator behind the activation,\u201d Robinhood said.<\/p>\n
The news follows Robinhood\u00a0teaming up<\/a>\u00a0with Arbitrum in February to offer traders access to swaps via Arbitrum-based decentralized exchanges.<\/p>\n \u201cAccessing 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,\u201d said Johann Kerbrat, General Manager of Robinhood Crypto.<\/p>\n Robinhood\u00a0first\u00a0began providing crypto trading services in February 2018 with the\u00a0launch<\/a>\u00a0of Bitcoin and Ethereum markets across five U.S. states. \u201cCryptocurrencies have become the first foray into investing and financial services to\u00a0a large number of\u00a0people,\u201d said Robinhood\u00a0co-founder,\u00a0Vlad Tenev.<\/p>\n Robinhood began expanding its roster of cryptocurrencies with\u00a0the\u00a0addition<\/a>\u00a0of Bitcoin Cash and Litecoin in\u00a0July 2018, alongside the introduction of support for on-chain cryptocurrency transfers. By 2021, Robinhood users in\u00a0all but\u00a0two U.S. states could access its cryptocurrency markets.<\/p>\n In March 2021, Robinhood announced plans to ship a non-custodial cryptocurrency wallet, following up with a\u00a0beta launch<\/a>\u00a0of the Polygon-powered wallet to 10,000 iOS users in September 2022. Robinhood Wallet became available to all iOS users in March 2023 and Android users in March of this year.<\/p>\n In December 2023, Robinhood\u00a0rolled out<\/a>\u00a0crypto trading for European users,\u00a0also\u00a0announcing plans to bring the service to U.K. customers in 2024.\u00a0The company\u00a0launched<\/a>\u00a0a custodial Solana (SOL) staking service for European customers\u00a0last week.<\/p>\n However, Robinhood\u2019s crypto business suffered a blow in the U.S. on May 4 when\u00a0it\u00a0received<\/a>\u00a0a Wells Notice from the Securities and Exchange Commission\u00a0(SEC). A Wells Notice is issued when the regulator completes an investigation concluding that the recipient has\u00a0infringed<\/a>\u00a0securities\u00a0law,\u00a0and typically precedes a\u00a0formal complaint<\/a>.<\/p>\nRobinhood expands crypto\u00a0offerings<\/h2>\n