Robinhood launched its public blockchain, Robinhood Chain, on July 1 to compete in the DeFi sector with tokenized stocks and decentralized lending products. The expansion included a 7% APY offer for the USDG stablecoin within its Earn program. Within its first week of launch, the new chain reached a significant milestone of $1 billion in decentralized exchange (DEX) volume.
Robinhood designates USDG as the primary stablecoin for its upcoming blockchain network, focusing on a new yield-sharing economic structure.
Read the full storyRobinhood has officially launched its chain on MetaMask, allowing users to manage digital tokens and tokenized assets directly through the popular Web3 interface.
The trading platform is exploring the securitization of its credit card receivables to raise capital and support its expanding financial services.
The new Robinhood Chain reached a $1B DEX volume milestone within its first week of operation.
Robinhood introduces a 7% APY for USDG stablecoin holdings within its Earn program to capture a larger share of the retail crypto market.
The brokerage debuts Robinhood Chain with tokenized stocks and DeFi lending to diversify revenue beyond traditional trading.