Robinhood’s ( HOOD ) new blockchain has posted a strong debut, quickly emerging as one of the busiest decentralized trading networks and reinforcing the broker’s strategy to expand tokenized financial products, Wall Street brokerage 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 over the past week, making it a top-five chain by DEX activity, the broker said. More than 65,000 users now have about $13 million in tokenized shares 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 across multiple regulated asset tokenization business models,” wrote analysts led by Gautam Chhugani.
Robinhood launched the public mainnet of Robinhood Chain on July 1, an Ethereum layer-2 blockchain built on Arbitrum designed for tokenized real-world assets and decentralized finance.
The network supports the firm’s tokenized equity offering, enabling 24/7 trading, self-custody and onchain use cases such as lending and collateralization, while supporting integrations with decentralized applications and liquidity providers.
