June 30th, Digital brokerage firm Robinhood announced on Monday that it will expand its crypto business footprint through a series of new initiatives, including developing its own blockchain network based on Arbitrum and launching tokenized stock trading.

Today, the company launched its tokenized stock product on the Ethereum Layer 2 network Arbitrum for European users, covering 200+ US stocks and ETFs, supporting 24/7 trading on weekdays. Robinhood stated in a release that this move will upgrade its European crypto app to a "crypto-powered all-in-one investment platform."

Robinhood also confirmed that it is building a Layer 2 blockchain network optimized for tokenized assets. This new chain based on the Arbitrum tech stack aims to support 24/7 trading, self-custody, and cross-chain transfer of tokenized assets. While the specific launch date has not been disclosed, sources familiar with the matter indicate it may be rolled out by the end of this year or early next year.