Robinhood chain testnet records 4M transactions in first week, CEO says

Robinhood’s blockchain initiative has hit an early development milestone, with its Robinhood Chain testnet processing more than four million transactions within its first week of launch, Robinhood CEO Vlad Tenev announced on X.

4M in a week: Robinhood’s L2 testnet sparks buzz

Tenev highlighted that developers are already building on the protocol’s Ethereum Layer-2 ecosystem, designed for tokenized real-world assets and on-chain financial services, calling it “the next chapter of finance.”

Robinhood Chain is a bespoke Ethereum Layer-2 network built on Arbitrum technology that aims to reduce costs and increase scalability for decentralized applications tied to financial-grade use cases. The public testnet, live since early February, lets developers experiment with tools, network entry points and testnet-only assets such as “stock tokens.”

Reactions on X to the CEO’s tweet were mixed. One user cautioned that “testnet numbers are usually vanity metrics,” but acknowledged that four million transactions in a week suggests “actual curiosity.”

The user questioned whether the activity reflects external developers shipping products or primarily internal stress testing, adding that the real challenge will be moving meaningful RWA volume without complex user experience hurdles.

Others were more optimistic. One commenter described the figure as “seriously impressive,” suggesting that if the mainnet performs similarly under load, it could become a significant retail crypto on-ramp.

Skepticism also surfaced around the proliferation of new blockchains. Another user argued there is “no need to reinvent the wheel,” pointing to Ethereum’s established developer base and long track record, and questioning whether launching additional chains fragments liquidity and adoption.

The announcement comes amid broader shifts in Robinhood’s business performance. In its fourth quarter of 2025, Robinhood reported revenue of $1.28 billion, up 27 % year-over-year, though slightly below Wall Street expectations, as weaker crypto trading revenues weighed on results.

Crypto-related revenue dropped about 38 % compared to the prior year, reflecting broader downturns in digital asset markets, even as equities, options and subscription income supported overall growth.