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Robinhood Adds MATIC Sending via Polygon, Ethereum

by BSCN

September 2, 2022

Robinhood, a financial trading platform, has added support for MATIC sending and receiving via Polygon and Ethereum networks.

Robinhood Adds Polygon

Robinhood has confirmed the addition of Polygon Matic trading support. Its users will now be able to send and receive MATIC tokens via the Ethereum and Polygon networks. As it seeks to expand, the platform is also on the radar of the FTX cryptocurrency exchange.

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

Robinhood tweeted about the new listing of Polygon Matic on Aug. 31, where it also showed interest in listing more crypto assets in the future. Now its users can lend, borrow and swap $MATIC.

On Sept. 1, Robinhood also announced the listing of Cardano’s $ADA.

You asked… @Cardano is now on Robinhood #ADA #CryptoListing https://t.co/30JpA2vPF5 pic.twitter.com/GlXXu3S1lL
— Robinhood (@RobinhoodApp) September 1, 2022

This news comes as Robinhood has drawn attention from one of its most significant stakeholders. Sam Bankman-Fried’s exchange FTX has been completing acquisitions globally all year. Currently, it has a 30% stake in Robinhood. On June 27, Bloomberg posted an article claiming that FTX was exploring acquiring Robinhood.

However, in a statement, Bankman-Fried told Bloomberg:

“We are excited about Robinhood’s business prospects and potential ways we could partner with them. That being said, there are no active M&A conversations with Robinhood.”

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