Robinhood

Robinhood Markets is not a partner on Robinhood Chain — it is the chain, in every operationally meaningful sense, and understanding that concentration is the key to reading everything else about the network. Robinhood runs the sequencer (with first-come-first-served ordering and no fee-based priority) and the public RPC, so it controls transaction ordering and inclusion. It issues the flagship assets: Stock Tokens are tokenised debt securities minted by Robinhood Assets (Jersey) Limited, tracking equity prices onchain rather than conferring share ownership. It provides self-custody through Robinhood Non-Custodial, Ltd., and it owns distribution through Robinhood Wallet and yield through Robinhood Earn. The chain launched to public mainnet on 1 July 2026 after a February 2026 public testnet that reportedly processed over 200 million transactions, and it is wrapped in Robinhood's global expansion story alongside agentic trading and a DeFi suite. The position to take is that the 'permissionless' branding is true at the smart-contract layer — anyone can deploy, which is exactly why scam tokens appeared within days — but operationally the chain is centralised on Robinhood at launch: one company sequences it, runs its RPC, issues its marquee assets and distributes its main wallet. That is not a criticism so much as the defining fact. It gives the chain a coherent product, real distribution to tens of millions of users, and a regulated issuer standing behind the equities, which is why HOOD stock rose on the launch. It also concentrates sequencer, issuance, custody-adjacent and distribution risk in a single publicly-traded company (NASDAQ: HOOD) whose regulatory perimeter — no US persons, restricted jurisdictions — defines the chain's reach. Robinhood does run a HackerOne disclosure program, but the honest one-line summary is that Robinhood Chain's decentralisation today is a roadmap, not a state.

Operator

Robinhood runs Robinhood Chain's sequencer (first-come-first-served ordering, no fee priority) and the public RPC.· 90%§

Stock Token issuer

Stock Tokens are tokenised debt securities issued by Robinhood Assets (Jersey) Limited, tracking equity prices rather than conferring share ownership.· 90%§

Self-custody entity

Self-custody wallet services are provided through Robinhood Non-Custodial, Ltd.· 82%§

Launch timeline

Public testnet in February 2026 (reportedly 200m+ transactions), public mainnet on 1 July 2026.· 88%§

Distribution and scope

Access runs through Robinhood Wallet and Earn across 120+ countries, excluding US persons; Robinhood trades as NASDAQ: HOOD.· 85%§

Centralisation tension

The chain is permissionless at the contract layer but operationally centralised on Robinhood at launch, which runs a HackerOne disclosure program.· 82%§

• 2026-02

  Robinhood Chain public testnet launches

  Robinhood launched the public testnet of its chain, which reportedly processed more than 200 million transactions ahead of mainnet.

• 2026-07-01

  Robinhood Chain public mainnet goes live

  Robinhood launched Robinhood Chain mainnet alongside Stock Tokens, agentic trading and a DeFi suite, operating the sequencer and issuing the tokenised equities.