Robinhood will launch tokenized stock products based on Arbitrum and build a dedicated Layer 2 network for RWAs.

According to ChainCatcher news and a report by CoinDesk, digital brokerage Robinhood (HOOD) announced on Monday that it will expand its encryption business through a series of new initiatives, including developing its own Blockchain network based on Arbitrum and launching tokenized stock trading. The company today launched a tokenization stock product based on the Ethereum Layer 2 network Arbitrum for European users, covering more than 200 US stocks and ETFs, supporting all-day trading on business days. Robinhood stated in a statement that this move will upgrade its European crypto application to a crypto-driven all-in-one investment platform. Robinhood has also confirmed that it is building a Layer 2 Blockchain network optimized for tokenized assets. This new chain, based on the Arbitrum technology stack, aims to support round-the-clock trading, self-custody, and cross-chain transfers of tokenized assets. Although a specific launch date has not been announced, insiders have revealed that it may be released by the end of this year or early next year.