Robinhood to Launch Public L2 Testnet for Financial Apps
Robinhood is launching a public Ethereum Layer 2 testnet, called Robinhood Chain, designed for tokenized stocks and real-world assets. General Manager of Crypto Johann Kerbrat stated the chain will be open and permissionless for anyone to build on. While open, applications can be "certified" if they meet Robinhood's compliance requirements, with the company intending to allow other institutions to use the infrastructure.
- The Layer 2 network is built using Arbitrum's technology stack, chosen to combine Ethereum's security with higher throughput and lower transaction costs. To encourage development, Robinhood is committing $1 million to the 2026 Arbitrum Open House program to support projects building on the chain. - Infrastructure providers like Chainlink, LayerZero, Alchemy, and TRM are already integrating with the testnet, providing foundational services for developers. - The initiative is led by Johann Kerbrat, SVP and General Manager of Robinhood Crypto, who joined in 2021 and has overseen the launch of its self-custody wallet and international expansion. Kerbrat has been a vocal proponent of the need for regulatory clarity, praising the EU's MiCA framework while noting Robinhood met with the U.S. SEC 16 times in an unsuccessful attempt to register its crypto business. - This move follows competitors like Coinbase, which launched its own successful L2 network, Base, now generating over $10 million in monthly revenue with more than 5.7 million active users. - The mainnet is scheduled to launch later in 2026, following a six-month private development phase that preceded the current public testnet. - Developers on the testnet will have access to testnet-only "Stock Tokens" to facilitate the building of applications like decentralized lending markets and perpetual futures exchanges. - This L2 launch is part of a broader company strategy that includes the recent $200 million acquisition of the global crypto exchange Bitstamp to expand its international reach and licensing. - The chain is designed to support 24/7 trading and instant settlement for tokenized assets, aiming to abstract away technical complexities for the end-user through the main Robinhood App and the Robinhood Wallet.
