Robinhood CEO: Its L2 Testnet Records 4 Million Transactions in First Week

Odaily News Robinhood CEO Vlad Tenev stated that the Robinhood Chain, an Ethereum L2 network based on Arbitrum, has recorded 4 million transactions in the first week of its public testnet launch. Developers have already begun building applications on this network, which is designed to support real-world asset (RWA) tokenization and on-chain financial services.

Robinhood Chain launched its public testnet last week after six months of private testing, positioning itself as a permissionless blockchain platform supporting high-throughput financial applications and tokenized assets such as stocks and ETFs. The network has already integrated partners including Alchemy, LayerZero, and Chainlink. Although crypto trading revenue related to platforms like Binance dropped to $221 million in the fourth quarter of last year, Robinhood plans to enable 24/7 trading and near real-time settlement through this chain. Its mainnet is expected to launch later this year.