Robinhood Chain Takes on NYSE/Nasdaq | Robinhood Crypto GM Johann Kerbrat
•February 11, 2026
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Why It Matters
Robinhood’s open, permissionless chain could reshape retail access to tokenised equities, challenging traditional exchanges and accelerating blockchain adoption in mainstream finance.
Key Takeaways
- •Robinhood launches public testnet for its permissionless Robinhood Chain.
- •Chain aims to tokenise equities, real‑world assets on Ethereum L2.
- •Developers can build apps and seek Robinhood certification for visibility.
- •Robinhood positions itself against NYSE/NASDAQ tokenisation strategies in market.
- •Strategic investments in L2 solutions and Talon enhance ecosystem connectivity.
Summary
Robinhood announced the public launch of its Robinhood Chain testnet, a permissionless Ethereum Layer‑2 network designed to host tokenised equities and other real‑world assets. The rollout, unveiled at a Hong Kong conference, signals the brokerage’s ambition to compete directly with the tokenisation initiatives of the NYSE and NASDAQ, positioning itself as a bridge between traditional markets and blockchain technology. The testnet invites developers to experiment, certify applications, and potentially integrate with Robinhood’s existing wallet and trading platform. By leveraging its deep expertise in equities, options, and crypto, Robinhood plans to migrate its current tokenised stock products from Arbitrum onto its own chain, while also supporting third‑party dApps that meet regulatory and customer‑protection standards. Strategic stakes in L2 infrastructure provider Lighter and the connectivity platform Talon further reinforce the ecosystem’s scalability and interoperability. Key moments include Johann Kerbrat’s assertion that “crypto and blockchain is not just trading assets, it’s a technology that can replace financial systems,” and his promise that “Robinhood will be the first user of the chain,” giving the firm a first‑mover advantage. He also clarified that “certified apps will be elevated in the Robinhood experience,” offering developers a pathway to broader user exposure. If successful, the Robinhood Chain could democratise access to tokenised stocks, lower settlement times, and force legacy exchanges to accelerate their own blockchain roadmaps. It also creates a new revenue stream for Robinhood through certification fees and ecosystem services, while raising regulatory scrutiny around on‑chain securities trading.
Original Description
🚀ROCKETPOOL
Robinhood isn’t just adding another crypto feature—it’s assembling a new exchange stack: stock tokens, an Ethereum L2 built for real-world assets, and a wallet that can plug into DeFi. Johann Kerbrat (GM of Crypto at Robinhood) joins Bankless to unpack what “24/7 markets” actually requires, why liquidity and routing are the hidden battleground for tokenized equities, and how “Certified by Robinhood” could become a distribution moat for onchain apps. Along the way, they compare Robinhood’s approach to tokenization with the NYSE’s 24/7 tokenized platform plans and Nasdaq’s tokenized securities proposal, and dig into what U.S. regulatory clarity would need to unlock stock tokens stateside. Subscribe for more on the new financial rails being built in real time.
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TIMESTAMPS
0:00 Intro
3:43 Is Robinhood Building a New Exchange?
4:45 Robinhood Chain testnet: what it enables for builders
9:17 What’s actually unique about this L2
10:44 “Certified by Robinhood” explained
12:52 Mainnet timing & NYSE/Nasdaq vs Robinhood tokenization approaches
16:34 Stock tokens today: EU access, U.S. questions
18:16 The liquidity problem (and how routing fixes it)
21:28 What tokenized equities unlock beyond trading
23:23 Robinhood Wallet’s role in the stack
24:57 The CLARITY Act: what matters to Robinhood
30:49 Strategic bets: Talos, Bitstamp, and going institutional
38:51 Lighter + perps: DeFi vs CeFi (and the U.S. CFTC wall)
43:21 What’s next: “one ecosystem” + prediction markets
45:13 Builder call-to-action
RESOURCES
Johann Kerbrat
Not financial or tax advice. See our investment disclosures here:
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