0x Labs and Robinhood Wallet Launch New Product – ZRX Price Reacts Immediately
With the launch of 0x's new Tx Relay API, a single digital wallet can now be used across multiple blockchains.
0x Labs and Robinhood Wallet Unveil New Product. Image: TheBlock
The token for decentralized exchange 0x Labs (ZRX) surged nearly 20% after the protocol announced a partnership with Robinhood Wallet to develop the Relay Network on Polygon.
The Tx Relay API, currently in beta, will enable users to transact without needing separate wallets for each blockchain. The Relay Network will also provide liquidity from 0x's market makers and 70 exchanges. Robinhood Wallet will be the first to deploy the Tx Relay API.
We’re excited to announce that 0x’s new Tx Relay API is powering crypto trades on @RobinhoodApp Wallet! 🎉
— 0x (@0xProject) March 1, 2023
Robinhood users can trade crypto with no network fees on @0xPolygon⚡
Learn more and join the waitlist for early access to Tx Relay API👇https://t.co/4miDZshRlI
0x is a DEX founded in June 2020. After its initial ICO raised $24 million in 2017, 0x Labs secured an additional $70 million in April last year, with investment from OpenSea and Jump Crypto.
Meanwhile, Robinhood has significantly expanded into crypto over the past year, listing more cryptocurrencies on its app and planning to develop a Web3 wallet supporting NFTs and DeFi as of May 2022.
The ZRX coin price has jumped nearly 20% to $0.33 following the announcement of the Tx Relay API trial.
15-minute chart of the ZRX/USDT pair on Binance at 10:20 PM on March 1, 2023
