Four million transactions cleared on Robinhood’s Layer 2 testnet within its first week, according to CEO Vlad Tenev. The figure signals early developer traction as the brokerage pushes deeper into tokenized real-world assets despite softer crypto revenues.
Four million transactions in the first week of Robinhood Chain testnet.
— Vlad Tenev (@vladtenev) February 19, 2026
Developers are already building on our L2, designed for tokenized real world assets and onchain financial services.
The next chapter of finance runs onchain.
Robinhood launched the public testnet for Robinhood Chain last Tuesday as an Ethereum Layer 2 built on Arbitrum. The network followed six months of private testing and is structured as a permissionless blockchain for high-throughput financial applications, including native support for tokenized equities, exchange-traded funds, and other real-world assets.
Can Tokenized Equities Offset Crypto Revenue Declines?
The testnet activity comes as Robinhood’s crypto transaction revenue fell 38% year-over-year to $221 million in the fourth quarter. Yet data from DeFiLlama shows Ethereum Layer 2 networks collectively process millions of transactions daily, underscoring sustained demand for scalable onchain infrastructure even during market pullbacks.
Robinhood has already integrated infrastructure partners including Alchemy, LayerZero, and Chainlink to support the chain’s rollout.
“Developers are already building on our L2, designed for tokenized real-world assets and onchain financial services,” Tenev said in a post on X, adding that “the next chapter of finance runs onchain.”
Last month, the company announced plans to expand its tokenized stock offering with round-the-clock trading, near-real-time settlement, and self-custody. But the mainnet launch, expected later this year, will be the first real test of whether institutional and retail users migrate tokenized equities at scale.
