Robinhood launches public testnet for blockchain built on Arbitrum

Robinhood has initiated the public testnet phase for its proprietary blockchain, Robinhood Chain, which is an Ethereum Layer 2 solution constructed atop Arbitrum technology. According to Johann Kerbrat, Robinhood SVP and GM of Crypto, this testnet is designed to establish the foundation for an ecosystem focused on tokenized real-world assets and allow builders to leverage Ethereum's DeFi liquidity. The testnet will facilitate experimentation to identify and resolve stability issues before the mainnet launch. This move aligns with Robinhood's broader strategy to expand its digital asset presence, even as its Q4 cryptocurrency transaction revenue saw a 38% year-over-year decline to $221 million. The company also plans to enhance its tokenized stock offering with 24/7 trading and self-custody options, utilizing tokens issued on Arbitrum One. Developers on Robinhood Chain will soon be able to test with assets like Stock Tokens and integrate directly with Robinhood Wallet.

(Source：The Block)