Robinhood’s new blockchain (HOOD) has had a strong debut, quickly emerging as 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 Monday research report.
Since launching its mainnet on July 1, Robinhood Chain has generated $3.1 billion in decentralized exchange trading volume over the past week, making it one of the top five chains by DEX activity, the broker said. More than 65,000 users now own around $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 participants continue to innovate multiple business models for the 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 that is designed for real-world tokenized assets and decentralized finance.
The network underpins 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.
