Points of Focus

• Robinhood launched an Arbitrum-based layer-2 testnet for compliant tokenized asset trading and self-custody.
• Nearly 2,000 tokenized stocks are expected to migrate, though current equity value is about $15 million, trailing rivals.
• The move puts Robinhood alongside Coinbase and Kraken in building exchange-run blockchain infrastructure.

Robinhood launched the public testnet for Robinhood Chain on February 10, 2026, opening its Arbitrum-based Ethereum layer-2 network to developers after six months of private testing. The development marks a strategic shift for the brokerage, from a trading platform to a blockchain infrastructure operator, with a mainnet rollout planned later in 2026.

The Robinhood Chain public testnet is live 🛠️

Developers can now build on a financial-grade Ethereum Layer 2 built on @arbitrum— designed to support tokenized real-world and digital assets.

Start building with the core foundation of Robinhood Chain: https://t.co/yHCQRh5x3j…

— Robinhood (@RobinhoodApp) February 11, 2026

The network is designed to support tokenized real-world assets (RWAs) with compliance built directly into the protocol layer. It aims to enable 24/7 trading and self-custody through a native Robinhood crypto wallet. Infrastructure partners Alchemy (node and developer infrastructure), Allium (blockchain data services), Chainlink (real-world data feeds), LayerZero (cross-chain communication), and TRM (risk and compliance monitoring) are integrating during the testnet phase. The initiative was unveiled at CoinDesk’s Consensus Hong Kong conference.

Robinhood already has nearly 2,000 tokenized stocks and ETFs trading on Arbitrum One, following its European launch in July 2025. These assets will migrate to Robinhood Chain once the mainnet goes live. Still, the brokerage trails competitors in scale: its tokenized equity  represents roughly $15 million in value (at the time of writing), below platforms such as xStocks and Ondo Global Markets.

Robinhood Chain is entering the next phase of its onchain infrastructure roadmap.

EU users can already explore 2,000+ Stock Tokens linked to U.S. stocks & ETPs on Arbitrum One.

Now, with testnet live, Robinhood Chain is moving from shared rails to a dedicated Layer 2 built on…

— Arbitrum (@arbitrum) February 11, 2026

Johann Kerbrat, Robinhood’s senior vice president and general manager of crypto, described the testnet as foundational infrastructure for tokenized RWAs that also connects developers to Ethereum’s DeFi liquidity. Steven Goldfeder, CEO of Offchain Labs, added that Arbitrum’s technology positions Robinhood Chain to advance the next phase of tokenization.

The launch comes amid mixed financial results. Robinhood reported $1.28 billion in Q4 revenue on February 10, 2026, missing analyst expectations of nearly $1.34 billion, while crypto revenue declined $221 million from $268 million in the previous quarter.

Robinhood Markets has just released financial results for the fourth quarter and full year of 2025.

Check out the highlights from @vladtenev below, and catch our earnings call live at: https://t.co/W92tO1JASh pic.twitter.com/x8sdd3bibP

— Robinhood (@RobinhoodApp) February 10, 2026

Protocol-embedded compliance for financial assets

A key differentiator is Robinhood’s protocol-embedded compliance model. Rather than relying solely on smart contracts, regulatory requirements are reportedly enforced at the chain level, allowing jurisdiction-specific controls for tokenized securities. The network remains permissionless for builders, but Robinhood’s products are tailored for regulated financial services.

Choosing Arbitrum over building a standalone layer-1 reflected priorities around Ethereum’s security and existing liquidity rather than raw scalability. Kerbrat noted that Ethereum co-founder Vitalik Buterin emphasized layer-2 networks serve broader purposes beyond scaling, and said faster transactions were never the primary goal.

There have recently been some discussions on the ongoing role of L2s in the Ethereum ecosystem, especially in the face of two facts:

* L2s' progress to stage 2 (and, secondarily, on interop) has been far slower and more difficult than originally expected
* L1 itself is scaling,…

— vitalik.eth (@VitalikButerin) February 3, 2026

Developers can access documentation at docs.chain.robinhood.com along with standard Ethereum tooling. Planned features include testnet stock tokens for integration testing and Robinhood wallet integration. The ecosystem is targeting tokenized asset platforms, lending markets, and perpetual futures exchanges. Robinhood has also pledged $1 million to the 2026 Arbitrum Open House program, funding four global buildathons and two founder houses.

We're supporting builders, globally.

Robinhood Chain is supporting the Arbitrum Open House 2026 with $1 million of prizes for builders, backing teams building on the Robinhood Chain testnet, across New York, London, Singapore, and Dubai.

Learn more: https://t.co/BU7kdcN9i4

— Robinhood (@RobinhoodApp) February 11, 2026

Exchange Infrastructure Competition

Competition is intensifying as exchanges integrate blockchain infrastructure. Coinbase runs Base, an Optimism-based layer-2, and announced the deployment of its tokenized equities in December 2025. Kraken is developing Ink, also on Optimism, alongside xStocks, which it acquired in December 2025.

By choosing Arbitrum, Robinhood differentiates its approach while focusing on rebuilding financial systems through blockchain technology. The architecture also enables seamless asset migration from Arbitrum One to Robinhood Chain once the mainnet launches, minimizing operational disruption.