Robinhood launched the public mainnet of Robinhood Chain, an Ethereum layer-2 network powered by Arbitrum, on Wednesday. The "AI-native" network aims to bridge traditional finance (TradFi) with decentralized finance (DeFi), starting with features like Stock Tokens—tokenized shares of major companies such as Nvidia and Apple—for users outside the U.S. These tokens can be used in lending pools and as collateral in DeFi. Integrations with BitGo and Chainlink, along with partnerships with Uniswap and Pleiades, support automated market making and proprietary trading. The Robinhood Wallet also expands with perps trading via Lighter and a lending feature for USDG stablecoin yielding ~7% APY for eligible U.S. users. Geographically, Robinhood plans to expand to Canada and Singapore soon, with U.K. crypto services in the pipeline. Despite an 8% stock price rise on the day to $108.65, shares are still 29% below their 52-week high of $153.86. The launch comes after a 34% quarterly drop in crypto revenue to $134 million and a 10% staff reduction last month.

Key facts

• Robinhood launched Robinhood Chain, an Arbitrum-powered Ethereum L2, on Wednesday.
• Stock Tokens allow tokenized shares of companies like Nvidia and Apple for non-U.S. users.
• Partnerships include BitGo, Chainlink, Uniswap, and Pleiades for liquidity and trading.
• Robinhood Wallet adds perps trading via Lighter and USDG lending at ~7% APY.
• Stock rose 8% on the day to $108.65 but is 29% off its 52-week high of $153.86.

KeyAudit data perspective