Robinhood: Building an Ethereum-based L2 due to its security and liquidity
Robinhood's head of crypto, Johann Kerbrat, stated that the company chose to build an Ethereum Layer-2 network based on Arbitrum instead of launching a standalone Layer-1. The main reason is to directly benefit from Ethereum's security, decentralization, and EVM ecosystem liquidity, allowing the company to focus on core products such as stock tokenization. Robinhood's proprietary L2 is currently in private testnet phase. Tokenized stocks have been initially deployed on ArbitrumOne, with seamless migration of assets and liquidity possible when the new chain launches. As of now, the number of Robinhood's tokenized stocks has grown from about 200 initially to over 2,000.
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Robinhood: Building an Ethereum-based L2 due to its security and liquidity
Robinhood's head of crypto, Johann Kerbrat, stated that the company chose to build an Ethereum Layer-2 network based on Arbitrum instead of launching a standalone Layer-1. The main reason is to directly benefit from Ethereum's security, decentralization, and EVM ecosystem liquidity, allowing the company to focus on core products such as stock tokenization.
Robinhood's proprietary L2 is currently in private testnet phase. Tokenized stocks have been initially deployed on ArbitrumOne, with seamless migration of assets and liquidity possible when the new chain launches. As of now, the number of Robinhood's tokenized stocks has grown from about 200 initially to over 2,000.