Robinhood CEO: Its L2 testnet saw a trading volume of 4 million transactions in the first week

Robinhood CEO Vlad Tenev stated that the public test of the Ethereum L2 network Robinhood Chain based on Arbitrum has recorded 4 million transactions in its first week.

Developers have begun building applications on this network, which aims to support the tokenization of real-world assets (RWA) and on-chain financial services. After six months of private testing, Robinhood Chain launched its public testnet last week, positioning itself as a permissionless blockchain platform that supports high-throughput financial applications and tokenized assets such as stocks and ETFs. The network has already integrated partners like Alchemy, LayerZero, and Chainlink. Despite a decline in crypto trading revenue to $221 million for platforms like Binance in the fourth quarter of last year, Robinhood plans to enable 24/7 trading and near-real-time settlement through this chain. Its mainnet is expected to be released later this year.