Robinhood executive details Layer 2 strategy, focusing on leveraging Ethereum security and EVM liquidity; currently still in testing phase

According to ChainCatcher, Johann Kerbrat, Head of Robinhood Crypto, recently shared in an interview the latest developments regarding the company's upcoming Ethereum Layer 2 network, tokenized stock project, and staking business. Johann Kerbrat stated that Robinhood ultimately chose to build a Layer 2 within the Ethereum ecosystem, rather than developing an independent Layer 1, out of a focus on "specialization."

By anchoring to Ethereum, Robinhood can directly leverage its mature security, decentralization features, and the vast liquidity within the EVM space, allowing the company to concentrate on developing core functionalities such as stock tokenization. Currently, this Layer 2 network is in the private testnet phase, and no public launch timeline has been announced yet.

It is worth noting that Robinhood's tokenized stocks are already operating on Arbitrum One, with the number of available stocks expanding from 200 at its launch in July last year to over 2,000 now. Kerbrat emphasized that this is just the beginning, with future plans to expand tokenization to private equity, real estate, and art. In addition, thanks to updated policies from the US SEC, Robinhood launched its Staking service in most regions of the United States in June last year.