Key Takeaways:
- Robinhood launched its own L2 blockchain, Robinhood Chain, on Arbitrum.
- Stock Tokens rolled out across 120-plus countries for 24/7 DeFi use.
- Robinhood Earn lets US users lend USDG stablecoins at an estimated 7% APY.
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Robinhood launches blockchain and 3 crypto products as shares jump 62%
Robinhood Markets launched an L2 blockchain, tokenized stocks and a DeFi lending product as part of its broadest crypto expansion yet.
"Robinhood Chain gives builders a permissionless environment while connecting directly with our growing crypto and wallet ecosystem," the company said at its "The World is Flat" keynote in London.
The Arbitrum-based blockchain supports lending, borrowing and other on-chain financial products with partners including Uniswap, Alchemy, BitGo and Chainlink. Stock Tokens, available in the Robinhood Wallet across more than 120 countries, offer 24/7 economic exposure to US stocks and ETFs through tokenized instruments, though they do not provide legal ownership of the underlying shares. In the US, the company rolled out Robinhood Earn, a self-custody lending product that lets eligible users lend USDG through the Morpho protocol at an estimated 7% APY, with support from Steakhouse, Ethena, Spark and Maple.
The moves broaden Robinhood's revenue base beyond trading commissions into crypto, tokenized assets, lending and subscriptions. HOOD shares have gained 61.8% over the past three months, outperforming the industry's 11.1% gain, as the company builds toward a multi-product financial platform.
Robinhood also expanded perpetual futures in Europe beyond crypto to commodities, ETFs and foreign exchange — including gold, silver, QQQ, EUR/USD, WTI and Brent crude — with up to 10 times leverage. The company plans to launch crypto trading in the UK, expand in Canada after its WonderFi acquisition and eventually offer brokerage services in Singapore.
Agentic Trading, which allows eligible US users to connect AI agents to Robinhood data and automate strategies within user-defined guardrails, has been extended to crypto. Earlier in May, the company rolled out AI agents for trading and credit card purchases and set a Guinness World Record for the most items purchased by an AI agent in three minutes using its Gold Card.
BTIG reiterated a Buy rating on HOOD with a $125 price target, implying about 15% upside from its last close, saying the event demonstrated Robinhood's ambition to be more than a US equities trading platform.
This article is for informational purposes only and does not constitute investment advice.
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