Robinhood Chain Roars to Life with $800M in Value Locked

Robinhood Chain, the Ethereum layer-2 network launched by Robinhood, has reached nearly $800 million in total value locked after just over a month online. The network processed more than 200 million transactions.

In an exclusive interview with FOMO Hour, Johann Kerbrat, Robinhood's head of crypto and international businesses, explained that the company chose to build on Ethereum layer-2 rather than layer-1 because it could rely on existing security and decentralization while focusing its resources on products. He pointed to deposits and transaction count as early measures of adoption.

Kerbrat emphasized the importance of developer activity for the chain's success, saying he wants Robinhood Chain to not just be a platform for Robinhood users but also for anyone who can use and interact with its products, such as stock tokens and perpetual futures. He stated that customers can buy and sell real-world assets on the network, including 200 tokenized stocks, lend stablecoins, and trade perpetual futures.