Robinhood's new blockchain has achieved a strong debut, rapidly emerging as one of the busiest networks for decentralized trading. According to a research report from Wall Street broker Bernstein, the launch reinforces Robinhood's strategy to expand its tokenized financial products.
Since its mainnet launch on July 1, Robinhood Chain generated $3.1 billion in decentralized exchange (DEX) trading volume over the past week. This activity places it among the top five chains by DEX volume. More than 65,000 users now hold approximately $13 million in tokenized stocks and $300 million in stablecoins on the network.
The Ethereum layer-2 blockchain, built on Arbitrum, is designed for tokenized real-world assets and decentralized finance. It underpins Robinhood's tokenized stock offering, enabling features like 24/7 trading and self-custody.
Analysts note that while early trading was driven by memecoins, Robinhood is expected to increasingly focus on tokenized real-world assets, including stocks and commodities. The report also highlighted key integrations with partners like Uniswap and Chainlink as critical for building liquidity.
The launch aligns with strong growth in the tokenized RWA sector, which has expanded to over $51 billion this year, up about 50% year-to-date.