A popular decentralized exchange, Uniswap, has joined forces with the Robinhood trading platform to simplify the process of buying and selling cryptocurrencies.

Announced on April 30, Robinhood's crypto Connect feature is now accessible on the Uniswap mobile app, making it easier for eligible Robinhood customers in the US to receive $10 in the USD Coin (USDC) stablecoin as a reward when they purchase crypto using Robinhood Connect on the Uniswap wallet.

Robinhood Connect, introduced in April 2023, allows users to fund Web3 wallets from their Robinhood crypto accounts seamlessly, without leaving the dapps. However, this feature is limited to customers in the United States, making the Uniswap integration geo-targeted.

The Uniswap mobile app, a self-custody DeFi wallet, launched in April 2023 and is available on Android and iOS platforms. The app features several fiat onramp providers, with Robinhood Connect being the latest addition, alongside Coinbase Pay and Moonpay.

Despite some complaints about high transaction fees in recent reviews, the Uniswap app allows users to store, monitor, and access tokens on various chains without the hassle of changing or configuring networks. It has achieved over 100,000 downloads on the Google Play Store, and a significant 37% of the Ethereum layer-2 volume has been captured by the decentralized exchange.

In late April, Robinhood collaborated with the Ethereum layer-2 network Polygon for cross-chain swaps and listed the Shiba Inu (SHIB) meme coin for New York users. However, despite these developments, Robinhood's stock price (HOOD) dropped almost 5% on April 30, reaching $16.48 in after-hours trading.

As for Uniswap's native token, UNI, it has fallen 56% from its 2024 high of just over $16 and is currently trading at $6.5 with a 9% decline on the day. The DeFi asset has shed 84% of its value from its all-time high of $44.91 in May 2021, almost wiping out gains from this year's altcoin rally.