According to Odaily Odaily, Robinhood Crypto's head, Johann Kerbrat, recently shared the latest developments regarding the company's upcoming Ethereum Layer 2 network, tokenized stock project, and staking business in an interview:
Johann Kerbrat stated that Robinhood's ultimate decision to build Layer 2 within the Ethereum ecosystem, rather than developing a separate Layer 1, stemmed from a "focus" consideration. By anchoring itself to Ethereum, Robinhood can directly access its mature security, decentralized nature, and the vast liquidity within the EVM space, allowing it to concentrate its efforts on developing core functionalities such as stock tokenization.
Currently, the Layer 2 network is in its private testnet phase, and a public launch timeline has not yet been announced. It's worth noting that Robinhood's tokenized shares are already running on Arbitrum One, and their number has expanded from 200 at launch last July to over 2,000. Kerbrat emphasized that this is just the beginning, and future plans include expanding the tokenization business to areas such as private equity, real estate, and art. Furthermore, thanks to updates to SEC policy, Robinhood launched its staking service in most parts of the United States last June. (CoinDesk)
