TL;DR
- Testnet Growth: Robinhood Chain processed 4 million transactions in its first week as developers began testing applications focused on tokenized assets and financial services.
- Strategic Expansion: The company plans to launch its mainnet later this year, utilizing the testnet to trial stock-style tokens and expand its real-world asset strategy, which already includes nearly 500 tokenized US stocks and ETFs.
- Market Context: Robinhood’s Q4 2025 results showed rising revenue but weaker crypto income, while the broader RWA and stablecoin markets continued expanding with billions in onchain assets and growing user participation.
Robinhood’s new Ethereum layer 2 is off to a fast start, processing 4 million transactions in its first week of public testnet activity as the company pushes deeper into tokenized financial services. CEO Vlad Tenev said developers are already experimenting with applications built for real‑world assets and onchain financial tools, framing the network as part of a broader shift toward blockchain‑based markets.
Four million transactions in the first week of Robinhood Chain testnet.
Developers are already building on our L2, designed for tokenized real world assets and onchain financial services.
The next chapter of finance runs onchain.
— Vlad Tenev (@vladtenev) February 19, 2026
Early Developer Activity Signals Strong Testnet Momentum
In a Thursday post on X, Tenev highlighted early developer engagement on Robinhood Chain, describing the L2 as a foundation for tokenized assets and next‑generation financial applications. The testnet launched last week after roughly six months of private testing and is built using Arbitrum technology to support high‑throughput activity. Robinhood said the chain is designed for tokenized equities, ETFs, and other traditional instruments, with infrastructure partners including Alchemy, LayerZero, and Chainlink.
Robinhood plans to launch the mainnet later this year, positioning the testnet as a sandbox for experimental assets such as stock‑style tokens and deeper integrations with the company’s crypto wallet. The rollout reflects the firm’s expanding ambitions in digital assets beyond trading. As part of its real‑world asset strategy, Robinhood has already tokenized nearly 500 US stocks and ETFs on Arbitrum, signaling a long‑term commitment to blockchain‑based market infrastructure.
Robinhood’s Financial Results Show Mixed Performance
The company’s latest earnings report showed $1.28 billion in Q4 2025 net revenue, a 27% year‑on‑year increase but short of analyst expectations of $1.34 billion. Crypto revenue fell 38% to $221 million following an October market downturn, contributing to a 34% decline in net income to $605 million. Despite the drop, earnings per share slightly exceeded forecasts, underscoring the firm’s continued profitability even amid weaker crypto trading activity.
The tokenized RWA market has grown to about $24.83 billion, rising roughly 10% over the past month, while the broader category of digitally represented assets totals around $372.97 billion. Wallets holding tokenized financial products reached approximately 850,558, representing a more than 33% increase in 30 days. Stablecoins remain a dominant segment with $296.69 billion in value across 236 million users, even as total value dipped slightly over the month.
