Crypto: Robinhood’s L2 Testnet Hits 4m Transactions In First Week, CEO Says
Robinhood plans a mainnet launch later this year as the testnet hosts experimental assets, including stock-style tokens.
Robinhood’s Ethereum layer-2 network processed 4 million transactions in its first week of public testnet activity, according to CEO Vlad Tenev.
In a Thursday post on X, Tenev said developers have begun experimenting with applications on the L2 network, which was built for tokenized real-world assets (RWAs) and blockchain-based financial services. “The next chapter of finance runs onchain,” he wrote.
The trading platform launched the Robinhood Chain testnet last week as an Ethereum layer 2 built using Arbitrum technology. The launch followed about six months of private testing and is intended to serve as a high-throughput environment for financial applications.
According to the company, the chain is designed to support tokenized equities, exchange-traded funds (ETFs) and other traditional financial instruments. Infrastructure partners include Alchemy, LayerZero and Chainlink.
Related: Tokenized stocks ‘inevitable’ and may stop trading freezes: Robinhood CEO
A mainnet launch for Robinhood Chain is planned later this year. In the meantime, the testnet will host experimental assets, including stock-style tokens and tighter connections with the company’s crypto wallet.
The move comes as Robinhood is expanding its crypto footprint beyond trading. The company has already tokenized nearly 500 US stocks and ETFs on Arbitrum as part of a wider real-world asset strategy.
Robinhood reported $1.28 billion in Q4 2025 net revenue, a 27% year-on-year increase but below analyst expectations of $1.34 billion, as crypto income weakened. Revenue from cryptocurrency trading fell 38% to $221 million after a market downturn in October, contributing to a 34% drop in net income to $605 million, even as earnings per share slightly exceeded forecasts.
Related: ARK Invest adds $34M Robinhood stake as Bitcoin falls below $66K
Source: CoinTelegraph
