Robinhood Deploys Layer 2 Blockchain on Arbitrum with Expanded Trading Offerings

Retail broker Robinhood is expanding its offerings to include Layer 2 blockchain technology on Arbitrum, partnering with Uniswap and Chainlink as day-one partners. This move enables faster and cheaper transactions for users.

The expansion also includes the launch of stock tokens trading 24/7 within the Robinhood Wallet across 120 countries. These tokens can be used as collateral in DeFi (Decentralized Finance) applications, offering a new use case for traditional stocks.

Robinhood Earn is offering an estimated 7% APY (Annual Percentage Yield) on USDG deposits, which are insured by Lloyd's of London. Additionally, perpetual futures on stocks, gold, silver, and FX will launch in Europe with up to 10x leverage, while crypto trading will open in Canada with zero fees through September 30.

The technical analysis provided for ARB (Arbitrum) suggests that the asset is holding steady at $0.08, with support from the EMA50 against the EMA200 at $0.09. The MACD golden cross confirms a bullish structure, while the RSI leaves room for continuation.