Robinhood Launches Public Blockchain and DeFi Products
Robinhood launches its own public blockchain and DeFi products, expanding its crypto offerings.
The update
Robinhood has officially launched its public mainnet for Robinhood Chain, a Layer 2 blockchain built on Arbitrum. The network, described as “AI-native and purpose-built for real-world assets,” went live on the testnet in February and is now open to the public. Alongside the blockchain launch, Robinhood introduced Robinhood Earn, a decentralized lending product allowing users to earn an estimated 7% annual percentage yield on USDG, a dollar-backed stablecoin.
Why it matters
This marks a significant expansion for Robinhood beyond its traditional brokerage roots into decentralized finance. The launch of a public blockchain and tokenized stock products in over 120 countries suggests a broader strategy to integrate crypto and traditional finance. The move comes as the company seeks to capitalize on the growing interest in on-chain financial infrastructure.
What to watch
Availability of crypto trading in the UK is expected to follow soon. The company also plans to expand perpetual futures trading in Europe to include commodities, ETFs, and foreign exchange markets. Additionally, Robinhood is testing AI-powered trading tools for eligible U.S. users.
Sources
- CoinDesk — DeFi products, blockchain details, UK plans
- CoinTelegraph — Mainnet launch, workforce restructuring context