Robinhood is launching an Arbitrum-based tokenized stock product and is currently building an RWA-specific Layer 2 network.

BlockBeats News, June 30th, Digital broker Robinhood announced on Monday that it will expand its crypto business footprint through a series of new initiatives, including developing its own blockchain network based on Arbitrum and launching tokenized stock trading.

The company today launched its tokenized stock product on the Ethereum Layer 2 network Arbitrum for European users, covering 200+ US stocks and ETFs, supporting trading 24/5 on weekdays. Robinhood stated in a release that this move will upgrade its European crypto app to a "crypto-powered all-in-one investment platform."

Robinhood also confirmed that it is building a Layer 2 blockchain network optimized for tokenized assets. This new chain, based on the Arbitrum technology stack, is designed to support 24/7 trading, self-custody, and cross-chain transfer of tokenized assets. While the specific launch date has not been disclosed, sources familiar with the matter revealed that it may be launched by the end of this year or early next year.