SC analyst says Uniswap-Robinhood partnership is underestimated

Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, said the market is underestimating the partnership between decentralized exchange Uniswap (UNI) and U.S. stock and crypto trading app Robinhood (Nasdaq: HOOD). He stated that the partnership serves as an acknowledgment that Uniswap is a high-quality decentralized finance (DeFi) protocol trusted by large traditional companies like Robinhood, adding that more similar partnerships are likely in the coming quarters. Uniswap previously announced it would act as the core DeFi infrastructure partner for Robinhood's proprietary Layer 2 blockchain, the Robinhood Chain, serving as its native automated market maker (AMM). Standard Chartered has also identified Uniswap as a key hub for trading tokenized assets and has set a $100 price target for UNI.