Robinhood’s new blockchain (HOOD) has made a splashy debut, quickly becoming one of the most active networks for decentralized trading and bolstering the broker’s strategy to expand tokenized financial products, Wall Street broker Bernstein said in a research report published Monday.
Since launching its mainnet on July 1, Robinhood Chain has generated $3.1 billion in decentralized stock trading volume over the past week, making it one of the top five chains in terms of DEX activity, the broker said. More than 65,000 users now hold approximately $13 million in tokenized stocks and $300 million in stablecoins on the network.
“Strong early adoption highlights the growing convergence of real-world tokenized assets with the broader DeFi ecosystem, as industry players continue to innovate across multiple business models for tokenization of regulated assets,” wrote analysts led by Gautam Chhugani.
Robinhood launched the Robinhood Chain public mainnet on July 1, a layer 2 Ethereum blockchain built on Arbitrum and designed for real-world tokenized assets and decentralized finance.
The network supports the company’s tokenized equity offering, enabling 24/7 trading, self-custody and on-chain use cases such as lending and collateral, while supporting integrations with decentralized applications and liquidity providers.
