Robinhood launched a public testnet version of its proprietary Ethereum layer-2 network, Robinhood Chain, on July 23, 2026. Built using Arbitrum’s technology stack, the testnet is initially accessible to a closed group of partners and developers for integration trials, access point testing, and documentation review.
Testnet Details and Partners
Johann Kerbrat, Robinhood’s SVP of Crypto, told Fortune that projects including Alchemy, LayerZero, and Chainlink have been onboarded. A full mainnet launch is slated for later this year, followed by the rollout of Robinhood Wallet in the coming months. Kerbrat said users will be able to execute transactions through both the Robinhood Wallet and the main Robinhood App on mainnet launch, with the blockchain abstracting away technical complexity for a seamless experience.
Layer-2 blockchains inherit Ethereum’s security while reducing cost and latency, making them ideal for the high-frequency retail trading Robinhood is known for.
Competitors' L2 Moves
Robinhood follows Coinbase and Kraken in building custom L2s. Coinbase’s Base has become a dominant network, with over 5.7 million monthly active users and monthly revenue exceeding $10 million, per Token Terminal data. Robinhood Chain aims to catch up in transaction efficiency for its user base.
Q4 Earnings Pressure
Despite total net revenues rising 27% year-on-year to $1.28 billion, Robinhood’s crypto revenue plummeted 38% in Q4 2025 versus a year earlier, aligning with a broad crypto market downtrend since late October. The earnings miss triggered a 1% share drop on Feb. 10 and an additional 7.6% decline in after-hours trading.
While the market awaits mainnet launch, the near-term financial headwinds remain a key risk for the stock.