Robinhood (HOOD) L2 testnet logs 4 million transactions in first week

CoinDesk

by Margaux Nijkerk

February 19, 2026

AI-Generated Deep Dive Summary

Robinhood’s (HOOD) newly launched L2 testnet has achieved a significant milestone, logging over 4 million transactions in its first week since going live. This marks a notable step forward for the trading app as it moves to build its own blockchain infrastructure. The platform’s CEO, Vlad Tenev, highlighted that developers are already building on Robinhood Chain, which is designed for tokenized real-world assets and on-chain financial services. Testnets like this provide a risk-free environment for testing new features before they go live on the mainnet. The initiative comes amid broader debates within the Ethereum ecosystem about the future of scaling solutions. Earlier in February, Ethereum co-founder Vitalik Buterin expressed skepticism toward the protocol’s long-held focus on layer-2 (L2) rollups, arguing that many have fallen short of full decentralization and that Ethereum’s base layer is scaling faster than expected. This philosophical shift has sparked discussions about how scaling and decentralization might evolve in 2026. Robinhood Chain arrives against this backdrop, as centralized exchanges like it look to build their own proprietary blockchain infrastructure. By controlling the underlying technology, these platforms aim to capture user bases and liquidity more effectively while exploring new revenue streams. This approach contrasts with the broader Ethereum community’s ongoing reevaluation of scaling strategies. The move by Robinhood reflects a growing divide in the crypto space. While Ethereum’s core architects reassess how scaling should evolve on its base layer, major trading platforms are doubling down on proprietary chains and tokenized markets. For exchanges like Robinhood, owning the infrastructure could give them greater influence over how tokenized markets develop. This shift matters for readers interested in crypto because it highlights a potential evolution in blockchain technology’s direction. As centralized exchanges invest in their own infrastructure, they may reshape the future of tokenization and decentralized finance (DeFi). The outcome of these efforts will likely impact competition, innovation, and the broader adoption of blockchain-based financial services.

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Originally published on CoinDesk on 2/19/2026