Robinhood will launch tokenized stock products based on Arbitrum and build a Layer 2 network dedicated to RWA

ChainCatcher news, according to CoinDesk, digital brokerage Robinhood (HOOD) announced on Monday that it will expand its cryptocurrency business through a series of new initiatives, including the development of its own blockchain network based on Arbitrum and the launch of tokenized stock trading.

The company today launched a tokenized stock product based on the Ethereum Layer 2 network Arbitrum for European users, covering over 200 U.S. stocks and ETFs, supporting trading around the clock on weekdays. Robinhood stated in a press release that this move will upgrade its European crypto application to a "crypto-driven all-in-one investment platform."

Robinhood also confirmed that it is building a Layer 2 blockchain network optimized for tokenized assets. This new chain, based on the Arbitrum technology stack, aims to support round-the-clock trading, self-custody, and cross-chain transfers of tokenized assets. While a specific launch date has not been announced, insiders revealed that it may be launched by the end of this year or early next year.