Robinhood Markets Inc (NASDAQ:HOOD) shares are trading higher Wednesday. The company launched the public mainnet for Robinhood Chain and is hosting an event in London. Here’s what you should know.
Robinhood Markets stock is among today’s top performers. What’s behind HOOD gains?
Robinhood Chain Goes Live
The centerpiece of the announcement was the full public debut of Robinhood Chain, a blockchain network the company has been developing on top of Arbitrum’s technology. The network is built to support tokenized versions of real-world financial assets and decentralized finance activity and had been running in a testing phase since earlier this year, CoinDesk reported.
Alongside the network launch, the company said its tokenized stock offering is now fully operational, giving users in more than 120 countries the ability to trade equity tokens at any hour and plug them into lending and collateral applications.
