Robinhood’s Arbitrum L2 Goes Live with Stock Tokens, 7% Yield

Robinhood launched the public mainnet for Robinhood Chain on Wednesday, its biggest step into onchain financial infrastructure. The company added stock tokens and a decentralized lending product to its platform. Robinhood shares rose more than 8% on the day, trading near $108.

The chain is an Ethereum layer-2 built on Arbitrum. It’s designed for tokenized real-world assets and decentralized finance applications. A public testnet ran since February. Uniswap will deploy a dedicated automated market maker on the network. Pleiades will operate a separate proprietary trading venue. Integrations include Alchemy, BitGo, and Chainlink.

Robinhood also launched a new generation of Stock Tokens. Eligible users in more than 120 countries can hold them through Robinhood Wallet. The tokens trade around the clock and can be used in lending markets or as collateral. They are debt securities issued by a Robinhood subsidiary that track the economic performance of underlying stocks. Holders receive no voting rights or shareholder protections. Robinhood’s earlier tokenized equity products will now be called Classic Stock Tokens. Those remain available in Europe but cannot be transferred to external wallets.

The company introduced Robinhood Earn, a decentralized lending product for eligible US users. They can lend the USDG stablecoin through a self-custody wallet. The product advertises an estimated 7% annual yield, variable and not guaranteed. Lending infrastructure comes from Morpho, with support from Steakhouse, Ethena, Spark, and Maple.