Robinhood Executive Details Layer 2 Strategy: Core Focus is Leveraging Ethereum Security and EVM Liquidity, Currently Still in Testing Phase

Odaily News Robinhood Crypto's head, Johann Kerbrat, recently shared the latest progress on the company's upcoming Ethereum Layer 2 network, tokenized stock project, and staking business in an interview:

Johann Kerbrat stated that Robinhood ultimately chose to build a Layer 2 within the Ethereum ecosystem rather than developing an independent Layer 1, driven by a focus on "specialization." By anchoring to Ethereum, Robinhood can directly leverage its mature security, decentralization features, and the vast liquidity within the EVM space, allowing the company to concentrate its efforts on developing core functionalities like stock tokenization.

Currently, this Layer 2 network is in a private testnet phase, with no public launch timeline announced yet. Notably, Robinhood's tokenized stocks are already operational on Arbitrum One, having expanded from 200 types at launch in July last year to over 2,000 types. Kerbrat emphasized that this is just the beginning, with future plans to extend tokenization services to areas such as private equity, real estate, and art. Furthermore, benefiting from updates to U.S. SEC policies, Robinhood launched its Staking service in most U.S. regions in June last year. (CoinDesk)