Robinhood Chain recorded approximately $3.1 billion in cumulative decentralized exchange volume during its first seven days following the July 1 public mainnet launch, placing it among the top five chains by DEX activity according to Bernstein research shared on Monday. About 65,000 users currently hold $13 million in tokenized stocks and $300 million in stablecoin balances on the network. The Arbitrum-based Ethereum Layer 2 is designed for financial services and tokenized real-world assets, operating in a permissionless environment for external developers. Early trading activity was dominated by meme coins before broader liquidity arrived from crypto-native participants. The launch expands Robinhood's equity tokenization model into a regulated framework, competing with alternative structures introduced the same week by Ondo Finance, as the tokenized RWA market climbed from $35 billion at the end of 2025 to over $51 billion.
Robinhood Chain Integrates Uniswap, Morpho, and Chainlink on Arbitrum Layer 2
Robinhood Chain is an Arbitrum-based Ethereum Layer 2 built for financial services and tokenized real-world assets. The ecosystem draws integrations from Uniswap, Morpho, Lighter, Chainlink, and BitGo. The chain's product line includes tokenized stocks, decentralized lending, and perpetual futures.
Robinhood's stock tokens are available in more than 120 countries, excluding the United States, and trade around the clock on decentralized exchanges. Users can post the tokens as trading collateral or deposit them in lending pools for yield.
Robinhood Partners with Morpho and Lighter for Lending and Perpetual Futures
Robinhood partnered with Morpho to allow eligible U.S. users to lend the dollar-backed stablecoin USDG directly through the main Robinhood app, earning up to 7% APY. Perpetual futures operate through Lighter, which committed $11 million in LIT tokens to incentivize Robinhood users trading the contracts.
Meme Coins Dominated Robinhood Chain's Opening Week Before Crypto Liquidity Arrival
The chain's opening week ran on speculative flow, with early trading dominated by meme coins before broader liquidity arrived from crypto-native traders, Bernstein said. Daily figures placed the network third among all chains by 24-hour DEX volume at $809 million, trailing Solana and BNB Chain. Decentralized finance total value locked on Robinhood Chain crossed $100 million within 15 days of launch.
Robinhood Expands Custodial Equity Tokenization Model
The launch expands Robinhood's custodial model for equity tokenization, in which a sponsor buys the underlying shares, holds them in a secured account, and issues a blockchain token against them. Robinhood's stock tokens previously traded only in the European Union with limited utility beyond price tracking; roughly $13 million in tokens across more than 90 stocks now sit on the chain.
Ondo Finance Introduces Third-Party Tokenized Securities Model
A competing model surfaced the same week. Ondo Finance introduced what it called the first third-party tokenized securities compliant with existing U.S. regulations, minting tokens through a registered transfer agent and passing shareholder rights to holders. Ondo has tokenized an ETF and a single stock to demonstrate the structure.
Tokenized RWA Market Cap Climbed 50% from $35 Billion to $51 Billion
Tokenized real-world assets have held up against a broader crypto market down about 25% year to date. The category's market cap climbed from $35 billion at the end of 2025 to more than $51 billion, a 50% gain, with private credit the dominant slice at 48%, followed by U.S. Treasurys at 29%.
Total RWA holders crossed one million, up roughly 75% year to date, according to the note. Ethereum and Provenance together host close to 70% of onchain RWA activity.
Bernstein rates Robinhood Outperform with a $130 price target. The stock closed at $111.97 on July 10.
FAQ
What volume did Robinhood Chain record in its first week after launch?
Robinhood Chain recorded approximately $3.1 billion in cumulative decentralized exchange volume during its first seven days following the July 1 public mainnet launch, placing it among the top five chains by DEX activity according to Bernstein research.
How many users hold tokenized stocks on Robinhood Chain?
About 65,000 users hold $13 million in tokenized stocks and $300 million in stablecoin balances on Robinhood Chain, according to Bernstein analysts.
What lending rate does Robinhood offer through its Morpho partnership?
Robinhood partnered with Morpho to allow eligible U.S. users to lend the dollar-backed stablecoin USDG directly through the main Robinhood app, earning up to 7% APY.
