With 0x’s new product Tx Relay API, only one digital wallet can be used on different blockchains.
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.
We’re excited to announce that 0x’s new Tx Relay API is powering crypto trades on @RobinhoodApp Wallet! 🎉
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 (@0xProject) March 1, 2023
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.