Robinhood Launches Mainnet for Arbitrum-Based Layer-2 Robinhood Chain
Summary
- Robinhood launched the mainnet for Robinhood Chain, its Arbitrum-based layer-2 network, as it expands its on-chain finance business.
- The company also formally launched a stock token service in 120 countries alongside the public mainnet and introduced Robinhood Earn, which offers a 7% annual yield.
- Robinhood is expanding globally through broader perpetual futures trading in Europe, a cryptocurrency trading service in the U.K., the WonderFi acquisition in Canada, and an AI-based trading tool in the U.S.
Forecast Trend Report by Period
Robinhood Markets Inc. (HOOD), the U.S. stock and cryptocurrency trading platform, has launched the mainnet for Robinhood Chain, its Arbitrum-based layer-2 network, expanding its push into on-chain finance.
CoinDesk reported on July 1 that Robinhood also formally launched a stock token service in 120 countries alongside the public mainnet rollout.
The company also introduced Robinhood Earn, a decentralized lending service offering a 7% annual yield.
Robinhood is also expanding perpetual futures trading in Europe to include commodities, ETFs and foreign exchange. In the U.K., it is pursuing the launch of a cryptocurrency trading service. In Canada, it plans to expand its business based on its acquisition of WonderFi.
For U.S. users, Robinhood also unveiled Agentic Accounts, an AI-based trading tool.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.