Robinhood Markets Launched the public mainnet for Robin Hood seriesa layer 2 blockchain that the company said was designed specifically for real-world assets.
Robinhood Chain was built using the Arbitrum platform on enterprise standards, is natively connected to Robinhood onchain users, and has deep integrations with Alchemy, BitGo, and Chainlink, the company said on Wednesday (July 1). press release.
“Robinhood Chain, which is driven by artificial intelligence and designed specifically for real-world assets, creates a zero-sum environment for builders to seamlessly innovate,” Robinhood said in the statement.
Blockchain is one of several new decentralized finance and fiduciary products that Robinhood announced on Wednesday during its event, “Robinhood offers: The world is flat“.
New products included Stock symbols Available on Robinhood Wallet in 120 countries and allowing 24/7 trading directly on Robinhood Chain; Subtract Robinhood earn For eligible users in the US, enabling them to lend USDG; And an integration that gives users access to perpetual futures contracts on the decentralized exchange lighter inside Robin Hood wallet.
Other additions include an expansion Perpetual futures contracts Available in the European Union. Maker order types for qualified cryptocurrency traders; and proxy accounts for cryptocurrency trading in the United States, according to the statement.
Robinhood also said its platform is now officially available in Canada, Robinhood Singapore has obtained a capital markets services license in Singapore, and Robinhood plans to launch cryptocurrencies in the UK soon.
“Decentralized finance opens up possibilities beyond what traditional finance can offer, but historically, it has required technical expertise to navigate.” Johan KerbratRobinhood’s senior vice president and general manager of crypto and international currencies said in the statement. “We are bringing the best of traditional finance and decentralized finance together, and in doing so, we are expanding financial ownership to every corner of the world.”
PYMNTS reported in April that Robinhood’s first-quarter results reflect the company’s deliberate shift from a trading app tied to retail speculation toward Integrated financial platform It is designed to capture long-term client value and combines brokerage, banking, consulting and social engagement.
Chairman and CEO of Robinhood Vlad Tenev “Driven by the relentless speed of our products and innovation, Robinhood is increasingly at the center of our customers’ financial lives, just as we enter the first innings of the great wealth transfer,” he said during the company’s first-quarter earnings call.
