Robinhood and Canopy Make Strides in RWA and L1 Blockchain Development

Roadmap to the future of decentralized finance (DeFi) continues with recent developments from Robinhood and Canopy. Robinhood Chain's public testnet on Arbitrum supports tokenized stocks, ETFs, private assets, and other financial instruments.

The testnet provides developers with a foundation to explore potential use cases, validate applications in advance, and prepare for mainnet launch. This advancement enables the tokenization of real-world assets and DeFi liquidity integration, paving the way for innovative applications like lending protocols and perpetual futures exchanges.

Meanwhile, Canopy has announced a $1.2 million seed round led by Mechanism Capital and CitizenX, with participation from Primitive, GSR, and Side Door Ventures. To incentivize early adoption, Canopy's points program is live, offering users opportunities to earn rewards for various tasks and milestones.