2024

April

Polygon

Polygon (MATIC) has marked a significant advancement in its Q2 2024 strategy through a new collaboration with <a href="https://coingape.com/robinhood-launches-wallet-for-android-users-crypto-adoption/" rel="noopener noreferrer nofollow">Robinhood Wallet</a>. Robinhood Wallet now supports cross-chain swaps using <a href="https://coingape.com/polygon-zkevm-mainnet-beta-resumes-operations-after-emergency-fix/" rel="noopener noreferrer nofollow">Polygon</a>‘s proof-of-stake network (PoS). The integration, announced on April 27, 2024, leverages technology from 0x Project and LI.FI. This enables seamless token swaps across different blockchain networks. Robinhood’s 23 million users can now access this feature, enhancing their trading capabilities.
The partnership not only widens the scope for Robinhood users but also emphasizes Polygon’s growing influence in blockchain technology. Despite the underwhelming performance of MATIC prices early in Q2, these technological integrations have kept the platform in a favorable position. Robinhood has been proactive in enhancing its service offerings. It previously integrated all <a href="https://coingape.com/bitcoin-etf-records-first-all-net-outflow-of-83m-since-launch-bitcoin-bottomed/" rel="noopener noreferrer nofollow">spot Bitcoin ETFs</a> and expanded cryptocurrency trading to the EU in December 2023.
The incorporation of cross-chain swap functionality is poised to increase user engagement on both platforms. It allows Robinhood to offer more diversified services and solidifies Polygon’s position as a leader in blockchain solutions.
<h2 id="b-polygon-leads-in-nft-transactions-growth-b">Polygon Leads in NFT Transactions Growth</h2>
In the past month, Polygon has emerged as the leading <a href="https://coingape.com/tether-announces-usdt-launch-on-evm-compatible-celo/" rel="noopener noreferrer nofollow">Ethereum Virtual Machine blockchain</a> for NFT transactions. This represents a significant stride in its operations, reflecting its growing dominance over competitors in the NFT sector. This achievement aligns with increased activity and interest in NFTs within the crypto community. Polygon’s network facilitates these transactions efficiently, appealing to both creators and collectors.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 .<a href="https://twitter.com/0xPolygon?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@0xPolygon</a> is the leading EVM chain by number of NFT transactions.
 Transactions counted here are those that involve NFT transfers only, where they counted the number of distinct hashes in the ERC721 and ERC1155 tables.
 This highlights that <a href="https://twitter.com/0xPolygon?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@0xPolygon</a>'s NFT ecosystem is the… <a href="https://t.co/4Jvkd15hJv" rel="noopener noreferrer nofollow">pic.twitter.com/4Jvkd15hJv</a>
 — Polygon Stats (@polygonstats) <a href="https://twitter.com/polygonstats/status/1783612965024825690?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 25, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Further establishing its prowess, Polygon recently reported a milestone in stablecoin usage. The network saw 1.9 million on-chain stablecoin users register, surpassing those of its main competitors, Ethereum and <a href="https://coingape.com/markets/arbitrum-price-forecast-are-whales-waiting-to-buy-arb-at-1-after-token-unlocks/" rel="noopener noreferrer nofollow">Arbitrum</a>, which each recorded 1.4 million users. Stablecoins are critical for reducing volatility in cryptocurrency transactions. Polygon’s ability to attract a larger user base underscores its robust infrastructure and user trust.
These advancements highlight Polygon’s commitment to expanding its ecosystem. They also support various aspects of blockchain technology, from NFTs to stablecoins.
<h2 id="b-ey-adopts-polygon-for-contract-solutions-b">EY Adopts Polygon for Contract Solutions</h2>
<a href="https://coingape.com/ernst-young-adopts-polygon-pos-for-contract-management-service/" rel="noopener noreferrer nofollow">Ernst &amp; Young</a> (EY), one of the leading global accounting firms, has taken a significant step in enterprise contract management. EY introduced the OpsChain Contract Manager. This innovative solution utilizes public blockchain technology for secure and efficient contract management. EY’s adoption of the Polygon network for this solution marks a critical evolution in blockchain’s role in enterprise solutions.
&nbsp;
The OpsChain Contract Manager is currently running on the Polygon network, but plans are in place for a future migration to Ethereum. This platform allows clients to publish contracts to a public blockchain. At the same time, it maintains privacy through sophisticated zero-knowledge circuits, which address common privacy concerns associated with digital transactions on public ledgers.
Read Also: <a href="https://coingape.com/cathie-woods-ark-invest-picks-meta-meta-palantir-pltr-stock-in-major-buy/" rel="noopener noreferrer nofollow">Cathie Wood’s Ark Invest Picks Meta (META), Palantir (PLTR) Stock in Major Buy</a>
The post <a href="https://coingape.com/polygon-achieves-major-milestone-with-robinhood-integration/" rel="noopener noreferrer nofollow">Polygon Achieves Major Milestone with Robinhood Integration</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Polygon Achieves Major Milestone with Robinhood Integration

Table of Contents

Coingape News Media

Other articles published on Apr 28, 2024

Top Gainers in the Crypto Market Last Week

DOJ challenges motion to dismiss Tornado Cash co-founder’s charges

How Not to Screw Up the 2024 Bull Run Again: The Ultimate Guide

Unveiling Hidden Gems: Cryptos Under $0.10 Poised for 100X Gains

Bitcoin Daily Transactions Hit Record High with Runes Token Standard Launch

Key Myths About XRP's AMMs Debunked by Anodos Co-Founder

Join our free newsletter for daily crypto updates!