Robinhood Chain Testnet Processes 4 Million Transactions in First Week as Mainnet Launch Approaches

Robinhood Chain Testnet Processes 4 Million Transactions in First Week as Mainnet Launch Approaches

Robinhood’s Ethereum layer-2 network processed four million transactions during its first week of public testnet activity, CEO Vlad Tenev announced on Thursday. The milestone comes as the trading platform prepares for a mainnet launch later this year.

In a Thursday post on X, Tenev said developers have begun experimenting with applications on the layer-2 network, which was built specifically for tokenized real-world assets and blockchain-based financial services. “The next chapter of finance runs onchain,” Tenev wrote in the announcement.

The Robinhood Chain testnet launched last week as an Ethereum layer 2 built using Arbitrum technology. The public launch followed approximately six months of private testing and is designed to serve as a high-throughput environment for financial applications.

According to the company, the chain is engineered to support tokenized equities, exchange-traded funds and other traditional financial instruments on blockchain infrastructure. The project has secured partnerships with major blockchain infrastructure providers including Alchemy, LayerZero and Chainlink.

A mainnet launch for Robinhood Chain is scheduled for later in 2025. During the testnet phase, the network will host experimental assets, including stock-style tokens, and enable tighter integration with the company’s cryptocurrency wallet product.

The blockchain initiative comes as Robinhood expands its cryptocurrency footprint beyond traditional trading services. The company has already tokenized nearly 500 US stocks and ETFs on Arbitrum as part of a broader real-world asset tokenization strategy.

Robinhood reported $1.28 billion in fourth quarter 2025 net revenue, representing a 27% year-over-year increase but falling short of analyst expectations of $1.34 billion. The miss was attributed to weakening cryptocurrency trading income during the period.

Revenue from cryptocurrency trading declined 38% to $221 million following a market downturn in October. The crypto revenue decline contributed to a 34% drop in net income to $605 million, though earnings per share slightly exceeded analyst forecasts.

The tokenized real-world asset market continues to expand, with approximately $24.83 billion in assets issued directly on-chain, according to data from RWA.xyz. The figure represents roughly 10% growth over the past month.

The broader category of digitally represented assets now totals around $372.97 billion. The number of wallets holding tokenized financial products has reached approximately 850,558, up more than 33% over the past 30 days.

Stablecoins currently hold roughly $296.69 billion in value across 236 million users. While total stablecoin value experienced a slight decline over the month, the number of holders continued to increase, indicating sustained adoption of blockchain-based dollar alternatives.

The Robinhood Chain testnet launch positions the trading platform to compete directly with other financial institutions exploring blockchain infrastructure. The focus on tokenized real-world assets aligns with growing institutional interest in bringing traditional financial products onto decentralized networks.

The company’s decision to build on Arbitrum technology provides access to established Ethereum ecosystem tooling and liquidity. Layer-2 solutions like Arbitrum offer faster transaction processing and lower fees compared to Ethereum’s main network, making them attractive for high-frequency trading applications.

Industry observers note that Robinhood’s blockchain strategy could challenge traditional market infrastructure if successfully executed. The ability to trade tokenized stocks 24/7 on blockchain rails could address concerns about trading freezes that have occurred during high-volatility periods on centralized platforms.

The testnet phase will allow Robinhood to identify technical issues and gather developer feedback before committing to a mainnet launch. The four million transactions processed in the first week suggest significant developer interest in building applications on the platform.

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