Robinhood launches its own Ethereum layer-2 network with 24/7 tokenized stock trading

What happened

Robinhood announced on 1 July 2026 that Robinhood Chain, an Ethereum layer-2 network, had begun operating on mainnet. The launch was packaged with continuous tokenized stock trading, perpetual futures through Lighter, onchain lending, and planned agentic crypto trading tools. Reporting emphasised that the stock tokens convey economic exposure rather than legal title to the underlying shares, a distinction that also applies to Robinhood's earlier EU stock token product. Robinhood had previously launched stock tokens for EU customers alongside perpetual futures and staking. The company framed the launch as part of a global expansion; American Banker characterised it as a broader wager on tokenized finance.

Why it matters

Robinhood is the first large retail brokerage to operate its own settlement network, which changes the vertical structure of retail equity distribution: order routing, custody and settlement sit inside one firm rather than across brokers, clearing members and a central depository. The ownership caveat is the substantive issue. If tokenized equity exposure is a derivative claim on an intermediary rather than a share, then corporate actions, voting rights, investor protection and default treatment differ from cash equity, and the two products are priced against different risks despite tracking the same ticker.

What is not settled

Robinhood has not published trading volumes for the stock tokens, and the legal characterisation of the tokens in each jurisdiction where they are offered is not settled.