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Robinhood Chain: Three Key Takeways

Khurshed Murtazaqulov, AJC, Chris Oh, Mohamed AllamJul 3, 2025 ⋅ 11 min read

Key Insights

  • Robinhood launched tokenized stocks for EU users, including stocks like Apple and Nvidia, and plans to create its own L2 (Robinhood Chain) to serve as the primary settlement layer for real-world assets.
  • Unlike crypto-native RWA projects that struggle to find demand, Robinhood is positioned to onboard a portion of its $255 billion in custodial assets onchain, giving it unmatched scale and immediate product-market fit.
  • Issuing a native stablecoin could unlock a nine-figure annual revenue opportunity for Robinhood. Retaining all yield while strengthening its vertical integration and ecosystem would be a win-win situation.
  • The rise of tokenized equities and compliant derivatives is shifting trader attention away from speculative altcoins and towards assets with clear valuation anchors, suggesting that altcoins are increasingly seeing their risk premiums diminished.

Introduction

On June 30, at the Ethereum Community Conference (ETHCC), Robinhood announced the next evolution of its trading platform, centered around tokenization and blockchain technology. The initial rollout will be available to EU users, but the ultimate goal is to onboard all its users, including the U.S. These developments follow Robinhood’s recent acquisition of Bitstamp and are the culmination of its efforts to expand into the tokenized asset market.

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Khurshed Murtazaqulov
MKhurshed08

Khurshed is an analyst intern at Messari and studies at Vanderbilt University. He previously interned at a crypto hedge fund. His primary interests are Stablecoins, DeFi, and how stablecoins are reshaping cross-border payments in emerging markets.

AJC
AvgJoesCrypto

AJC is a Research Manager at Messari for the Enterprise team. His primary focuses are on Bitcoin and Consumer. Prior to joining Messari, AJC wrote an independent crypto blog.

Chris Oh
CrizzyOnchain

Chris is a Research Analyst Intern at Messari. Prior to joining, he studied finance at the University of Maryland, where he led the Blockchain Club, and worked at several Web3 startups.

Mohamed Allam
plagueobserver

Mohamed is a protocol research analyst with a background in Aerospace and Trading, specializing in AI and fundamental research. He holds an MEng in AI from UIC and an MA in Public Policy from the University of Chicago, where he focuses on AI ethics. A decade-long crypto participant, Mohamed explores the intersection of emerging technologies, particularly AI and Quantum Computing.

Mentioned Assets
Outline
  • Key Insights
  • Introduction
  • Robinhood is now the RWA Leader
  • The Missing Link in Robinhood’s Vertical Stack: A Native Stablecoin
  • What about Altcoins?
  • Closing Summary
Authors
Khurshed Murtazaqulov
Khurshed is an analyst intern at Messari and studies at Vanderbilt University. He previously interned at a crypto hedge fund. His primary interests are Stablecoins, DeFi, and how stablecoins are reshaping cross-border payments in emerging markets.
AJC
AJC is a Research Manager at Messari for the Enterprise team. His primary focuses are on Bitcoin and Consumer. Prior to joining Messari, AJC wrote an independent crypto blog.
Chris Oh
Chris is a Research Analyst Intern at Messari. Prior to joining, he studied finance at the University of Maryland, where he led the Blockchain Club, and worked at several Web3 startups.
Mohamed Allam
Mohamed is a protocol research analyst with a background in Aerospace and Trading, specializing in AI and fundamental research. He holds an MEng in AI from UIC and an MA in Public Policy from the University of Chicago, where he focuses on AI ethics. A decade-long crypto participant, Mohamed explores the intersection of emerging technologies, particularly AI and Quantum Computing.
Mentioned Assets