CryptoSlate
Robinhood launched the public mainnet for Robinhood Chain on July 1, an Ethereum layer-2 network built on Arbitrum designed to host tokenized real-world assets, DeFi applications and trading tied to its broader product suite. The same day, the brokerage rolled out Stock Tokens through Robinhood Wallet in more than 120 countries, allowing eligible users to trade tokenized equities around the clock and deploy them in lending pools or as collateral.
The crypto expansion was paired with Robinhood Earn, a self-custody decentralized lending product for eligible US users offering an estimated 7% APY on USDG, the company's dollar-backed stablecoin. Lending infrastructure is powered by Morpho, with insurance coverage through Lloyd's of London and RELM for cyber or smart contract exploits.
Why it matters
Robinhood is moving from distributing third-party venues to owning more of the plumbing underneath its own products. Robinhood Chain integrates with Alchemy, BitGo and Chainlink, with Uniswap and Pleiades deploying automated market makers on the network. The same infrastructure logic shows up in prediction markets through Rothera, the platform tied to Robinhood and Susquehanna, which generated more than $900 million in volume over a recent one-week period.
The revenue mix is shifting in ways the market has not yet priced in. Artemis analyst Crossroads estimates Robinhood's prediction-market revenue could exceed its crypto revenue as early as Q2, citing 12.3 billion event contracts traded through June 25 and a typical 1-cent take rate, implying at least $123 million in quarterly revenue before month-end. Robinhood's Q1 crypto transaction revenue was $134 million, so the two lines are converging fast.
Market impact
Event-contract volumes have held up despite regulatory friction, helped by sports markets and World Cup activity, though the durability of that surge depends on flows beyond any single tournament. Robinhood CEO Vlad Tenev has pointed to a $500 million annual revenue run rate for the category, and Kalshi's growth outside sports plus Robinhood's distribution give the segment a path past one event cycle.
In Europe, Robinhood is rolling out commodity, ETF and FX perpetual futures with up to 10x leverage and 24-hour trading, while Bitstamp by Robinhood launched multi-asset perps with Nasdaq-powered matching and Kaiko reference prices. Eligible US users will also get Agentic Accounts that connect AI models through Robinhood's Trading MCP, extending agentic trading to crypto after its US equities and options debut.
Frequently asked questions
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What is Robinhood Chain and what does it do?
Robinhood Chain is an Ethereum layer-2 network built on Arbitrum that launched its public mainnet on July 1. It is designed to host tokenized real-world assets, decentralized finance applications and trading tied to Robinhood's product suite, with integrations from Alchemy, BitGo and Chainlink.
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Which countries can access Robinhood's tokenized stocks?
Stock Tokens are now available through Robinhood Wallet in more than 120 countries, although access varies by jurisdiction. Eligible users can trade tokenized equities around the clock and use them in lending pools or as collateral.
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How does Robinhood Earn work and what yield does it offer?
Robinhood Earn is a decentralized lending product that lets eligible US users lend USDG, Robinhood's dollar-backed stablecoin, through a self-custody wallet. The estimated yield is 7% APY, with lending infrastructure powered by Morpho and insurance coverage through Lloyd's of London and RELM for cyber or smart…
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Could Robinhood's prediction-market revenue beat its crypto revenue?
Artemis analyst Crossroads estimates prediction-market revenue could exceed crypto revenue as early as Q2 2025, citing 12.3 billion event contracts traded through June 25 and a typical 1-cent take rate, implying at least $123 million before month-end, against $134 million in Q1 crypto transaction revenue.
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What is Rothera and why does it matter for Robinhood?
Rothera is a prediction-market platform tied to Robinhood and Susquehanna. It generated more than $900 million in volume over a recent one-week period, giving Robinhood a route to operate more directly in event contracts rather than relying entirely on third-party venues like Kalshi.
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