Robinhood has launched its public mainnet, Robinhood Chain, an AI-native layer-2 blockchain built on Arbitrum. The move comes four months after the network entered its testnet phase.
The firm announced plans to launch crypto trading for residents in the United Kingdom. Concurrently, tokenized stock products are now available via the Robinhood wallet app to users in over 120 countries. CEO Vlad Tenev has previously described tokenized equities as inevitable, suggesting they offer a remedy for traditional trading freezes.
The launch coincides with the introduction of Robinhood Earn, a decentralized lending product allowing self-custody of USDG stablecoin at an estimated 7% annual percentage yield. The expansion follows a corporate restructuring and a reported 50% year-on-year drop in crypto transaction revenue, from $252 million to $134 million. Shares of Robinhood rose roughly 8% on the day of the announcement.