Robinhood launches tokenized stock products based on Arbitrum, and is building a dedicated Layer 2 network for RWAs.

According to BlockBeats, on June 30, digital broker Robinhood (HOOD) announced on Monday that it will expand its cryptocurrency 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 tokenized stock products based on the Ethereum Layer 2 network Arbitrum for European users, covering over 200 U.S. stocks and ETFs, and supporting trading around the clock on weekdays. Robinhood stated in a press release that this move will upgrade its European cryptocurrency application into a crypto-driven all-in-one investment platform. Robinhood also confirmed that it is building a Layer 2 Blockchain network specifically 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 transfer of tokenized assets. Although a specific launch date has not been announced, insiders have revealed that it may be launched by the end of this year or early next year.