Robinhood, the popular brokerage platform aiming to solidify its presence in the cryptocurrency space, has revealed plans for a layer 2 blockchain and a new range of crypto products and services as part of its expansion in the crypto market.
Robinhood made major announcements during the ‘Robinhood Presents : To Catch a Token’ event in Cannes, France. The company unveiled the development of a Layer 2 blockchain powered by Arbitrum, a promising scaling solution.
This new blockchain infrastructure will enable the tokenization of real-world assets, paving the way for new investment opportunities.
“Our latest offering lays the groundwork for crypto to become the backbone of the global financial system,” said Vlad Tenev, CEO of Robinhood.
Beyond its own L2 blockchain, Robinhood has also launched tokens representing stocks and exchange-traded funds (ETFs) to European Union member states. With more than 200 tokenized assets, customers will have easier access to these investments, first via Arbitrum before a native deployment on Robinhood’s Layer 2.
Additionally, European customers can now access crypto perpetual futures with leverage up to 3x, as well as crypto staking services beginning with Ethereum and Solana in the United States.
“Crypto was built by engineers for engineers, and hasn’t been accessible to most people,” said Johann Kerbrat, General Manager and Senior Vice President of Robinhood Crypto. “We’re onboarding the world to crypto by making it as simple to use as possible – with the goal of bringing powerful tools into a single intuitive platform.”
As a reminder, Robinhood had delisted Solana during its fall after the FTX collapse. This represents a significant turnaround for Solana in particular, indicating renewed confidence from major players in the sector.
These new offerings are part of Robinhood’s strategy for expansion and diversification in the cryptocurrency market. Over the past year, the company has strengthened its presence in this space, notably with the acquisition of Bitstamp and WonderFi, a Canadian crypto company.
In summary, Robinhood is now positioning itself as an essential player in the crypto ecosystem, thanks to the integration of Layer 2 technologies, the tokenization of traditional assets, and a range of innovative services. This evolution toward a one-stop shop for digital investment reflects the platform’s ambitions to become a leader in this booming market.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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