Robinhood's RhinoChain Hits $10B in Stock Token Trading Volume

RhinoChain is an Ethereum Layer-2 network launched by Robinhood in July 2026, which has achieved $10 billion in stock token trading volume since its inception. This impressive feat is a testament to the platform's innovative approach to decentralized finance.

The Stock Tokens on RhinoChain are ERC-20 representations of US equities and ETFs, backed 1:1 by underlying securities held in custody. Over 190 assets are available depending on jurisdiction, with popular names like Nvidia, GameStop, Apple, and SpaceX being among the most actively traded.

In a remarkable display of trading activity, the platform has captured demand that conventional brokers cannot serve, with roughly 74% of all Stock Token trading happening outside NYSE hours. The user count behind the $4.33 billion weekly volume figure is also noteworthy, with an astonishingly small number of 407 active users generating over $10 million in average weekly trading activity each.

The platform's growth has been swift, with a single-day trading record of $85.1 million recorded in late August and a Total Value Locked approaching $1 billion by September. However, the concentration risk among a small number of active traders is a clear near-term vulnerability that needs to be addressed for sustainable growth.