Decentralized exchange token ZRX surges 20% on the news that 0x Labs will collaborate with Robinhood Wallet and Polygon to create a relay network, streamlining cross-blockchain trading and integrating Robinhood Wallet as its first user. The network offers deep liquidity, enabling users to easily trade without loading multiple wallets for different blockchains. 0x Labs previously raised $70 million in funding from OpenSea and Jump Crypto, while Robinhood Markets has actively expanded its crypto offerings in recent months.
Decentralized Exchange 0x Labs Collaborates with Robinhood Wallet and Polygon to Drive Crypto Accessibility
In a significant move that promises to enhance the user experience in the cryptocurrency realm, decentralized exchange 0x Labs has partnered with Robinhood Wallet and Polygon to establish a groundbreaking relay network. This collaborative effort is geared towards making it easier for individuals to trade digital assets seamlessly across various blockchains without the complexities of managing multiple wallets.
The Tx Relay API, currently in beta mode, serves as the cornerstone of this innovative network. Through this interface, users will gain the ability to execute trades effortlessly, eliminating the need to load funds into separate wallets associated with different blockchains. Moreover, the relay network will leverage the substantial liquidity provided by 0x's market makers and a vast pool of 70 exchanges.
Robinhood Wallet, a renowned player in the crypto space, will be the first platform to embrace this transformative API. The integration will empower Robinhood Wallet users with the convenience of trading a diverse range of digital assets while accessing deep liquidity. This partnership marks a significant milestone in the evolution of the cryptocurrency ecosystem, as it paves the way for a more user-friendly and accessible trading experience.
0x Labs has emerged as a trailblazer in the decentralized finance (DeFi) arena, having raised a substantial $70 million in a funding round last April. The round attracted investments from prominent entities such as OpenSea, a leading NFT marketplace, and Jump Crypto, a subsidiary of Jump Trading Group. These investments underscore the industry's confidence in 0x Labs' vision of simplifying and democratizing crypto trading.
Robinhood Markets has also made waves in the crypto industry, showcasing a proactive approach to integrating digital assets into its offerings. The company has meticulously curated a selection of cryptocurrencies for trading within its app and recently introduced a dedicated web3 wallet in September. This partnership with 0x Labs and Polygon further solidifies Robinhood's commitment to enhancing its crypto ecosystem.
As of this moment, 0x Labs' native token, ZRX, exhibits a remarkable 20% surge in value over the past 24 hours, reaching a price of approximately 31 cents. This surge reflects the market's positive response to the company's strategic partnership and its potential to revolutionize crypto trading.
The collaboration between 0x Labs, Robinhood Wallet, and Polygon represents a pivotal step towards making cryptocurrencies more accessible and user-friendly. By leveraging the Tx Relay API, the alliance aims to eliminate the complexities associated with trading across multiple blockchains, empowering individuals to seamlessly navigate the crypto landscape. As the cryptocurrency ecosystem continues to evolve, this collaboration sets a precedent for fostering a more inclusive and accessible digital asset market.
