Robinhood launches a public testnet for its new Layer 2 blockchain, Robinhood Chain, amidst declining crypto revenues.
Robinhood has introduced a public testnet for the Robinhood Chain—its new Layer 2 network powered by Arbitrum. This platform aims to facilitate the tokenization of real-world assets and enhance DeFi applications.
The Robinhood Chain public testnet is now operational 🛠️
Developers can build on a financial-grade Ethereum Layer 2 that supports tokenized assets.
Learn more about building on Robinhood Chain: Check it out here.
— Robinhood (@RobinhoodApp) February 11, 2026
According to Johan Kerbrat, General Manager of Robinhood Crypto, this blockchain initiative is fundamental for merging traditional finance with blockchain technology.
Developers can now experiment with test assets like tokenized stocks and utilize tools linked to Robinhood Wallet.
Stephen Goldfeder, CEO of Offchain Labs, emphasized that this development signifies a shift towards offering financial services without middlemen.
Financial Results and Market Impact
Following the release of its fourth-quarter earnings report on February 10, Robinhood's stock, HOOD, saw an 8% decline in after-hours trading, dropping from $85.6 to $79.04.
The firm's cryptocurrency revenue fell by 38% year-over-year to $221 million, down from $268 million in the prior quarter, with trading volumes on the platform decreasing by 52%. A notable portion of the $82 billion turnover came from Bitstamp, which Robinhood acquired in June 2025.
Despite the crypto downturn, Robinhood's overall net revenue increased by 27%, totaling $1.28 billion, driven mainly by:
- Options trading: $314 million (+41%);
- Equities: $94 million (+54%);
- Net interest income: $411 million (+39%).
The number of Robinhood Gold subscribers surged by 58%, reaching 4.2 million, while total assets on the platform grew by 68% to $324 billion. CEO Vlad Tenev reiterated the company's intent to launch tokenized stocks and implement 24/7 trading with instant settlements on its blockchain. Notably, Robinhood previously announced plans for a derivatives exchange and clearinghouse in November 2025.
