Robinhood Uses TJAR for Automatic Conversion of Crypto Fees

Robinhood is utilizing the new service TJAR to automatically convert received crypto fees into a single chosen currency. This tool, developed by Uniswap Labs, allows for fees to be received in various tokens and converted through Uniswap's trading routes. TJAR is available on seven blockchains, and Robinhood is the first user to implement this technology, receiving USDC and USDG among others. Uniswap reports that the technology has been used for over $15 million in conversions in the past month. For Robinhood users, the app does not change immediately, but the new feature simplifies the processing of crypto fees without the need for a separate selling process for each currency. TJAR automatically executes the conversions via smart contracts, reducing manual work, but the final yield may vary depending on the chosen trading route and liquidity. Users determine which tokens they accept and which currency they wish to receive, keeping apps accountable for their settings and the consequences of an incorrect token list. The launch of TJAR is not a new cryptocurrency or a promise of higher returns, but rather provides infrastructure for businesses that already receive fees in crypto.

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