Robinhood launches Robinhood Chain, an Ethereum layer-2 network, to expand tokenized asset offerings and onchain financial products.
Robinhood Markets Inc (NASDAQ:HOOD) shares climbed 4% after announcing Robinhood Chain, a new Ethereum-based layer-2 blockchain built with Arbitrum’s Orbit technology. The network aims to support tokenized assets and onchain financial products, marking a strategic expansion into crypto infrastructure.
The blockchain integrates Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and Data Feeds, enabling price data and interoperability for tokenized real-world assets like NVDA, GOOG, and AAPL. Robinhood described the network as institutional-grade, designed to enhance security and data reliability for users.
Chainlink, a key player in decentralized finance, highlighted the partnership as evidence of growing adoption of its oracle standards by mainstream financial platforms. The collaboration underscores Robinhood’s push to bridge traditional investing with blockchain technology.