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- Robinhood has equipped a layer 2 community optimized to take care of tokenized shares
- The community will be powered by Ethereum scaling layer Arbitrum
- The community will give a steal to shopping and selling, “seamless bridging, and self-custody”
Financial services company Robinhood has equipped that it’s making a layer 2 community optimized to take care of the shopping and selling of tokenized precise-world assets. The layer 2 protocol will be powered by Ethereum scaling layer Arbitrum and may per chance per chance per chance give a steal to “seamless bridging and self-custody.” Robinhood additionally equipped a ramification of its product suite to consist of crypto perpetual futures and staking, indicating that the monetary services company is venturing deeper into the crypto and blockchain worlds.
Robinhood Layer 2 “On the moment in Pattern”
In a commentary, Robinhood stated it’ll first and main topic tokenized shares on Arbitrum and later transfer them to its “very possess Robinhood layer 2 blockchain” on story of it’s “at the moment in enhance.”
In accordance to Johann Kerbrat, SVP of Robinhood, the monetary services company is dedicated to bringing more folks to crypto by abstracting the technical facet, making it easy to make expend of, and creating extremely effective and intuitive tools.
Apart from announcing a layer 2 community, Robinhood additionally printed that it has expanded its product suite “to form shopping and selling crypto […] even more extremely effective and seamless.” The unique merchandise consist of rapid enhance on crypto deposits, crypto bank card rewards, Cortex for crypto, clear exchange routing, tax loads, and evolved charts.
Robinhood has additionally unveiled crypto staking to eligible U.S. prospects. The staking option helps Ethereum and Solana, with more cryptos to be added in the break.
Laying the Crypto Spine
In accordance to Robinhood CEO Vlad Tenev, the monetary services company’s transfer to elongate its product choices and make a layer two community is half of its mission to place the groundwork for “crypto to vary into the backbone of the global monetary machine.”
The revelations reach four weeks after Robinhood finalized its $200 million acquisition of crypto exchange Bitstamp, and four months after the monetary services company launched a prediction markets hub to rival Polymarket.
With Robinhood making a layer 2 community, it’s to be considered whether the transfer will support enhance crypto adoption.
