Robinhood's new blockchain, Robinhood Chain, surpassed 50,000 daily active users within days of its July 1 launch, outpacing the Stripe-incubated Tempo chain. The platform recorded over 100,000 weekly users and DEX trading volumes between $400 million and $570 million in its first week.
Daily revenue grew from $4,000 to $39,000, reaching an annualized run rate of $14 million. Built on Arbitrum technology, the chain launched with key partnerships including Uniswap and Chainlink, and supports tokenized stocks like NVDA, GOOG, and AAPL.
Tempo, which launched its mainnet in March, has seen slower adoption due to its enterprise-focused model for stablecoin payments. Robinhood's strategy mirrors Coinbase's successful launch of its Base layer-2 chain by leveraging an existing large user base.
The new chain's high trading volumes could pull liquidity from competing networks. Its focus on tokenized equities may attract traditional stock investors to decentralized finance. However, Robinhood maintains centralized control over the network's transaction sequencing.