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Robinhood: Built its Own L2 on Ethereum Due to Security and Liquidity Concerns
BlockBeats News, January 11th, Johann Kerbrat, Head of Cryptocurrency at Robinhood, stated that the company chose to build an Ethereum Layer-2 network based on Arbitrum instead of launching a standalone Layer-1. The primary reason is to directly leverage Ethereum's security, decentralization, and EVM ecosystem liquidity, allowing them to focus on core products such as stock tokenization.
Robinhood's proprietary L2 is currently in a private testnet phase, with tokenized stocks already deployed on Arbitrum One. In the future, assets and liquidity can be seamlessly migrated to the new chain when launched. So far, the number of Robinhood's tokenized stocks has grown from the initial approximately 200 to over 2000. (CoinDesk)
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