Odaily Planet News: Recently, Johann Kerbrat, head of Robinhood Crypto, shared updates on the company's upcoming Ethereum Layer 2 network, tokenized stock project, and staking services during an interview.
Johann Kerbrat stated that Robinhood's final decision to build a Layer 2 within the Ethereum ecosystem, rather than developing an independent Layer 1, was made with a focus on "specialization" in mind. By anchoring to Ethereum, Robinhood can directly benefit from its mature security, decentralized nature, and the vast liquidity within the EVM ecosystem, allowing the company to concentrate its efforts on core functionalities such as stock tokenization.
Currently, this Layer 2 network is in the private testnet phase, and no public launch timeline has been announced yet. Notably, Robinhood's tokenized stocks are already operating on Arbitrum One, with the number of tokenized assets expanding from 200 at its July 2022 launch to over 2,000. Kerbrat emphasized that this is just the beginning, with future plans to expand tokenization into private equity, real estate, and art. Additionally, thanks to updated policies from the U.S. SEC, Robinhood launched its staking service in most parts of the U.S. last June. (CoinDesk)