Robinhood Chain Launched, Bringing Decentralized Finance Services Directly to Users

Rohanhood, a U.S.-based stock and crypto trading platform, has launched its own Layer 2 mainnet called Robinhood Chain. The network is built on Arbitrum and aims to provide scalable, low-cost blockchain infrastructure for decentralized applications.

The launch signals a significant shift in the company's business model as it seeks to offer self-custodial and yield-generating products directly to its users. This includes Robinhood Earn, a decentralized lending product that offers a 7% annual yield, similar to DeFi lending protocols like Aave or Compound.

Rohanhood is also expanding its derivatives offerings in Europe by adding commodities, ETFs, and forex pairs to its perpetual futures trading platform. The company plans to launch crypto trading services in the UK and Canada following regulatory approvals.