Robinhood has added 80 new tokens on the Arbitrum network this week, giving its European users more access to tokenized U.S. stocks and ETFs.
The move has sparked talks of a possible HOOD Chain, as the company appears to be taking more steps into blockchain-based finance.
Robinhood Expands Token Access on Arbitrum
Robinhood has deployed 80 new tokens on Arbitrum in the past few days.
These include tokenized versions of well-known assets such as Galaxy (GLXY), WeBull (BULL), and Synopsys (SNPS).
The new listings will give Robinhood users in Europe a wider range of tokenized stocks and exchange-traded funds to trade.
The update was first shared by blockchain researcher Tom Wan, who noted the increase in token activity.
Arbitrum is a Layer 2 network built to make transactions faster and cheaper on Ethereum.
By using Arbitrum, Robinhood can offer its users access to tokenized assets without high network fees.
Meanwhile, the expansion has led to growing discussions online about a possible HOOD Chain.
Some users, including crypto commentator Jonasoeth, believe Robinhood could soon launch its own Layer 2 blockchain.
Others think the move simply shows that Robinhood is preparing to bring more traditional finance products into the blockchain space.
Robinhood has not released any official details about a new blockchain network.
However, the pace of recent token deployments suggests that the company is exploring ways to link traditional assets with blockchain systems.
This could make trading more efficient while giving users a bridge between regular markets and digital assets.
Robinhood (HOOD) Stock Shows Mixed Trading Results
Robinhood Markets Inc. (HOOD) closed at $129.91, down 1.53% on October 17. After hours, the stock rose to $131.00, a gain of 0.84%.
The company’s market value now stands at $115.45 billion, with a price-to-earnings ratio of 66.22.
Over the past year, the stock has traded between $23.00 and $153.86.
In the past month, HOOD shares rose by 7.44%, while the five-day chart shows a drop of 10.35%.
These moves reflect a mix of short-term selling and longer-term confidence. Some investors see the company’s recent blockchain activity as a signal of future growth.
Others remain cautious as the company balances its traditional brokerage business with new technology ventures.
It is worth noting that Robinhood has continued to attract younger investors through its easy-to-use app and low trading fees.
Its growing involvement with blockchain could help it reach a new audience interested in digital assets.
The company’s steps toward tokenization may also give it an advantage over traditional brokers that have been slower to adapt to blockchain systems.
More Fintech Companies Move Toward Blockchain
Other financial technology firms are also moving into blockchain. Ethereum researcher Dankrad Feist announced that he has joined the developers team at Tempo.
He said the goal is to bring blockchain payments to everyday use and reach more people around the world.
Feist, who has worked on Ethereum research since 2018, said Tempo will use open-source technology and work closely with the Ethereum ecosystem.
He explained that the company will focus on speed, scale, and real-world applications. He will continue to advise Ethereum Foundation projects while helping Tempo grow.
In similar circumstances, companies like Stripe are exploring blockchain tools for payments and settlements.
These projects show that more fintech firms are now trying to use blockchain to improve speed and reduce costs in financial services.
The trend suggests that both new and established firms see value in using blockchain beyond crypto trading.
Notably, as Robinhood, Tempo, and others continue to develop these tools, the line between traditional finance and digital assets is becoming thinner.