The brokerage introduces a decentralized network and stablecoin lending as crypto revenue fell 47% year-on-year to $134 million.
Robinhood debuted its public blockchain mainnet and plans to offer crypto trading to UK residents. The move follows a 10% workforce reduction and a 47% drop in crypto transaction revenue, from $252 million to $134 million year-on-year in Q1 2026.
The company also launched Robinhood Earn, allowing users to lend USDG, a dollar-backed stablecoin, at a 7% annual yield. Shares rose 8% on the announcement, reflecting investor optimism amid a competitive layer 2 market.
The mainnet enters a crowded space dominated by networks like Base, which holds $11 billion in total value secured. Robinhood’s expansion comes as EU crypto regulations finalize under MiCA.