Robinhood Launches Layer 2 Mainnet and Tokenized Stock Trading in 120+ Countries
Robinhood (HOOD) has launched the public mainnet for its Layer 2 blockchain, Robinhood Chain, built on Arbitrum. The mainnet launch brings tokenized stock trading live in over 120 countries via Robinhood Wallet, allowing users to trade tokenized equities around the clock and use them in DeFi applications such as lending and collateral. Additionally, Robinhood introduced Robinhood Earn, a decentralized lending product offering an estimated 7% APY on USDG, its dollar-backed stablecoin. The company also announced expansion of perpetual futures trading in Europe to include commodities, ETFs, and forex, plans to launch crypto trading in the UK, and availability in Canada after acquiring WonderFi. Furthermore, Robinhood unveiled Agentic Accounts, an AI-powered trading tool for eligible US users. This product push highlights the blurring lines between traditional finance and crypto, as Robinhood moves from a brokerage to an everything exchange with onchain financial infrastructure. The launch comes about four months after testnet testing and follows a recent 10% workforce reduction to streamline operations.
Key facts
- Robinhood launched Layer 2 blockchain mainnet on Arbitrum for tokenized assets and DeFi.
- Tokenized stock trading goes live in over 120 countries via Robinhood Wallet.
- Robinhood Earn offers 7% APY on USDG stablecoin lending with self-custody.
- Expansion includes Europe perpetual futures, UK crypto trading, Canada via WonderFi.
- AI-powered Agentic Accounts for US users to connect AI models with trading.