Robinhood Chain Testnet Hits 4M Transactions in First Week

Rohanhood Chain's testnet has reached an impressive 4 million transactions in its first week of public availability, according to CEO Vlad Tenev. The network, built on Arbitrum, aims to support tokenized real-world assets and on-chain financial services.

The testnet launched publicly on February 11 after six months of private testing. It's structured as a permissionless, high-throughput blockchain platform with native support for tokenized equities, ETFs, and other real-world assets. Infrastructure partners already integrated into the network include Alchemy, LayerZero, and Chainlink.

The transaction volume signals early developer interest in Robinhood Chain's financial application use cases at a time when Robinhood's crypto business has faced headwinds. The company's crypto transaction revenue fell 38% year-over-year to $221 million in the fourth quarter of last year.