Robinhood Launches Testnet for Ethereum Layer-2 Network
- Robinhood has launched a public testnet for Ethereum layer-2 network, Robinhood Chain, using Arbitrum technology.
- The testnet is live for developers and includes access points, documentation, and compatibility with standard Ethereum development tools.
- Features planned include tokenized assets, lending markets, and perpetual futures exchanges with a mainnet launch expected later this year.
- Robinhood aims to tokenize nearly 500 U.S. stocks and ETFs as part of its strategy to integrate real-world assets onchain.
- CEO Vlad Tenev noted that tokenized stocks could mitigate trading freezes via real-time settlement capabilities of blockchain technology.
The launch of the Robinhood Chain testnet marks a significant shift towards operating onchain infrastructure beyond crypto trading, aligning with broader trends in the exchange sector to control user interfaces and underlying technologies.
With plans for a mainnet launch later this year, Robinhood’s initiative could redefine how tokenized assets are integrated into the financial ecosystem, leveraging Ethereum’s DeFi liquidity.(Source)
