Robinhood Boosts DeFi Access with Arbitrum Integration: Streamlining Crypto Swaps for Non-Crypto Natives

At the ETHDenver conference, Robinhood announced its integration with Arbitrum, an Ethereum layer-2 network, allowing its wallet users to engage in efficient crypto swaps. This move aims to streamline access to decentralised finance (DeFi) for non-crypto native users by simplifying layer-2 transactions. Arbitrum, known for its substantial DeFi ecosystem, currently holds nearly US$3.3 billion in locked assets, ranking it as the fourth-largest network in this space according to DeFillama data. Despite the growing popularity of DeFi, the sector has faced security concerns due to its decentralised nature, with hackers targeting platforms. However, recent reports from Chainalysis indicate a decrease in DeFi hacks, with hackers stealing 63.7% fewer crypto assets compared to the previous year, although still managing to pilfer US$1.1 billion in 2023.