Robinhood Wallet Integrates Arcus API, RFQ System to Support Swaps for About 190 Tokenized Stocks
Summary
- Robinhood Wallet said it integrated Arcus' API and RFQ system, allowing users to swap tokenized stocks on the spot market.
- The integration means Robinhood Wallet orders can be routed through Arcus among multiple routing providers, enabling tokenized stock swaps to be executed on the best available path.
- Arcus said it supports about 190 tokenized stocks on Robinhood Chain and plans to offer limit order services through DApp features.
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Robinhood Wallet, the wallet service of U.S. stock trading platform Robinhood, is integrating the request-for-quote, or RFQ, system of decentralized exchange Arcus.
The Block reported on October 1 that Arcus had integrated its application programming interface, or API, into Robinhood Wallet. Eligible users can use Arcus' liquidity and trade-execution infrastructure within Robinhood Wallet to swap tokenized stocks on the spot market.
With the integration, Arcus joins the routing providers Robinhood Wallet can select when sending trade orders. If Arcus is chosen as the optimal route based on a user's order conditions, the tokenized stock swap is executed through Arcus' infrastructure.
Unlike conventional automated market makers, or AMMs, which rely on a single liquidity pool, Arcus uses an RFQ model. When a user requests a tokenized stock swap, multiple professional market makers submit quotes for the order, and the trade is executed at the most favorable price.
Arcus also plans to offer limit orders through Robinhood Wallet's decentralized application, or DApp, feature.
Arcus launched the service in July for more than 90 tokenized stocks on Robinhood Chain, Robinhood's proprietary blockchain. It now supports about 190 tokenized stocks.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul