Polygon Matic trading support has been added to the platform
MATIC tokens can now be sent and received via the Ethereum and Polygon networks on Robinhood. The platform is on the radar of the FTX cryptocurrency exchange as it seeks to expand.
On August 31, the crypto exchange tweeted about the new Polygon Matic listing and its interest in listing more crypto assets in the future. Users can now lend, borrow, and swap $MATIC.
Cardano’s $ADA was also listed on Robinhood on September 1.
This news comes as the crypto exchange has attracted the attention of one of its most important stakeholders. All year, Sam Bankman-exchange Fried’s FTX has been completing acquisitions worldwide. It currently owns 30% of the company. On June 27, Bloomberg reported that FTX was considering acquiring Robinhood.
Bankman-Fried, on the other hand, told Bloomberg in a statement:
“We are excited about Robinhood’s business prospects and potential collaboration opportunities. That said, there are no active M&A discussions with Robinhood.”
Who are Robinhood founders?
Baiju and Vlad, co-founders, were roommates and classmates at Stanford. After graduation, they moved to New York City and established two finance firms, selling their trading software to hedge funds. They discovered that big Wall Street firms paid next to nothing to trade stocks, whereas most Americans were charged a commission on every single trade. They wanted to change that, so they returned to California to create a financial product that would provide access to financial markets to everyone, not just the wealthy.