0x Labs and Robinhood Wallet launch new product – ZRX immediately reacts to price

With 0x’s new product Tx Relay API, only one digital wallet can be used on different blockchains.

0x Labs and Robinhood Wallet launch new product. Photo: TheBlock

The token of the decentralized exchange 0x Labs (ZRX) has increased by nearly 20% after the protocol announced a partnership with Robinhood Wallet to build the Relay Network on Polygon.

According to Notification, Tx Relay API is currently in beta stage which will help users to transact without the need to create wallets on multiple blockchains. Relay Network will also secure liquidity from the market makers of 0x and 70 exchanges. Robinhood Wallet will be the first partner to implement the Tx Relay API.

0x is a DEX established in June 2020. Following its first $24 million ICO in 2017, 0x Labs raised another $70 million last April, with participation from OpenSea and Jump Crypto.

Meanwhile, Robinhood has expanded aggressively into the crypto space over the past year. From the listing of many cryptocurrencies on the app to the plan to develop a Web3 wallet that supports NFT and DeFi in May 2022.

The price of 0x’s ZRX coin has jumped nearly 20% to $0.33 since the Tx Relay API test news.

15m chart of ZRX/USDT pair on Binance exchange at 10:20 PM on 01/03/2023

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