Robinhood unlikely to launch its own token as Ethereum already powers its new chain

Robinhood built an entire blockchain and still didn’t launch a token. In an industry where seemingly every company with a website eventually mints its own coin, that restraint is worth examining.

The company’s new Robinhood Chain, which went live on July 1, operates as an Ethereum Layer-2 network built on Arbitrum infrastructure. It uses ETH exclusively as its native gas token for transaction fees. According to analysts, that architectural decision effectively closes the door on a proprietary Robinhood token, at least for now.

Why no token makes strategic sense

Robinhood Chain is a permissionless Ethereum L2. It processes transactions using ETH for gas, the same way Ethereum’s mainnet does. This approach mirrors what several other Ethereum L2 networks have done. Base, Coinbase’s own Layer-2, similarly runs on ETH rather than issuing a native coin.

What Robinhood Chain actually does