Robinhood’s Stock (Hood) reached a new of all time High (ATH) after it had revealed plan To launch various innovative products, including its own layer 2 blockchain, tokenized shares, forever futures -trade and crypto -strike services.
After the news, the share rose around 11% to $ 92, a new all time for the company. This expands a growth trend that the shares have risen by more than 34% this month.
Robinhood’s new product range
On June 30, Robinhood revealed plans to launch a layer of 2 blockchain built on the Arbitrum network. This blockchain is designed to improve the scalability of Ethereum and at the same time support the tokenization of real-world assets.
The platform offers functions such as 24/7 trade, seamless bridges and self-confidence, strengthening the shift of Robinhood to become a more extensive platform that integrates traditional financing and crypto-based products.
As part of this expansion, Robinhood is planning to offer more than 200 US shares and ETFs on the Arbitrum network. This allows eligible European customers to access these assets without commissioning costs or to incur additional spreads.
The CEO of the company, Vlad Teev, demonstrated The new service at an event in Cannes, France, presents the Real-World Application by carrying out a share in stock transaction for OpenAI on the Arbitrum network.
Perpetual futures
In addition to Tokenized shares, Robinhood is preparing for the launch of crypto -central futures on the European market by the end of the summer. With these futures, traders can get continuous exposure to crypto, with leverage of a maximum of 3x.
The company stated that the orders for the new product are routed via Bitstamp’s Perpetual Futures Exchange.
Robinhood also introduced crypto strike services for American customers, starting with Ethereum and Solana. With these services, investors can earn rewards by putting their assets to support the blockchain networks.
Johann Kerbrat, GM and SVP from Robinhood Crypto, emphasized that these innovations were designed to make crypto as accessible as possible.
He said:
“Crypto was built by engineers for engineers and has not been accessible to most people. We are the world on board Crypto by using it as easily as possible – with the aim of bringing powerful tools into one intuitive platform.”