Robinhood launched the public testnet for its new blockchain, Robinhood Chain, on Wednesday, marking a significant step in the brokerage’s push to expand its presence in the cryptocurrency and tokenized asset markets. The chain, built on Ethereum-based Arbitrum, aims to support 24/7 trading of tokenized stocks, ETFs, and other assets, and to integrate those assets with decentralized finance (DeFi) applications.
The launch, announced at Consensus Hong Kong, follows a period of private testing and builds on Robinhood’s initial foray into tokenized stock offerings for European customers in July 2025, a partnership with Arbitrum that offered commission-free tokens linked to over 200 US stocks and ETFs. Robinhood now covers more than 1,000 stock tokens across the EU and EEA, but the company intends to migrate to its own chain for greater control and customization.
“It was a two-step process from the beginning. Arbitrum’s technology allows you to launch first on Arbitrum One and then migrate to your own proprietary chain,” Johann Kerbrat, SVP and General Manager of Robinhood Crypto, told BeInCrypto. The primary motivation for building its own chain, Kerbrat explained, is the ability to embed regulatory requirements directly into the blockchain layer, a crucial feature for handling tokenized equities where compliance varies by jurisdiction.
While the Robinhood Chain is permissionless – meaning anyone can build on it – the products developed by Robinhood will be specifically designed for regulated financial services. The company envisions the chain supporting not only equities but also tokenized representations of private equity, real estate, and other real-world assets in the future.
The launch of the testnet provides access to network entry points, developer documentation, and compatibility with standard Ethereum development tools. Ecosystem partners Alchemy and LayerZero are already building on the chain. Robinhood is also planning a series of hackathons globally, with a $1 million prize pool, focused exclusively on financial applications.
The move comes as Robinhood faces pressure to diversify its revenue streams. The company reported fourth-quarter revenue of $1.28 billion on Tuesday, falling short of analyst expectations of $1.35 billion. Crypto transaction revenue declined to $221 million from $268 million in the previous quarter, coinciding with a 23% drop in Bitcoin’s price during the period. Robinhood’s stock has also experienced a downturn since reaching an all-time high of $154 in October.
Beyond the blockchain development, Robinhood has been expanding its international footprint. In June 2025, the company completed the acquisition of Bitstamp for $200 million, gaining access to over 50 active licenses and registrations worldwide, as well as Bitstamp’s institutional crypto-as-a-service business. Kerbrat noted that the Consensus Hong Kong event provided an opportunity to meet with Bitstamp clients based in Singapore, and that Robinhood now holds licenses in both Singapore and Indonesia, with additional local acquisitions in Indonesia to bolster its presence.
Robinhood is also pursuing other revenue diversification strategies, including a staking service launched in the US in 2025, which has attracted approximately $1 billion in assets. The company is also investing in advanced trading tools to attract high-frequency and high-volume traders, and has expanded its fee tiers to offer more competitive rates. Its crypto-as-a-service offering, inherited from Bitstamp, caters to institutional clients like banks and hedge funds.
Robinhood plans to migrate its existing tokenized stock products to the Robinhood Chain before the full mainnet launch, with a specific launch date for the mainnet yet to be announced.
