Robinhood CEO: Its L2 testnet saw 4 million transactions in its first week.

Robinhood CEO Vlad Tenev stated that Robinhood Chain, an Ethereum L2 network based on Arbitrum, recorded 4 million transactions in its first week of public beta testing. Developers have begun building applications on the network, which aims to support the tokenization of Real-World Assets (RWAs) and on-chain financial services. Robinhood Chain launched its public beta last week after six months of private testing, positioning itself as a permissionless blockchain platform supporting high-throughput financial applications and tokenized assets such as stocks and ETFs. The network has already integrated partners such as Alchemy, LayerZero, and Chainlink. Despite a decline in crypto trading revenue on platforms like Binance to $221 million in the fourth quarter of last year, Robinhood plans to achieve 24/7 trading and near-real-time settlement through this chain. Its mainnet is expected to launch later this year.