Inside Robinhoods high-stakes bet to onboard 10 million casual users onto decentralized finance
Robinhood Chain briefly climbed to No. 2 in decentralized exchange (DEX) trading volume over the last weekend, prompting comparisons with some of cryptos largest networks. But Robinhood says those comparisons miss the point. The popular trading app argues that its opportunity is not to take volume from established crypto-native venues, but rather to leverage Robinhoods more than 10 million active users to bring new investors into tokenized assets and onchain derivatives. “Our opportunity isnt to take volume from existing crypto traders. Most people have never touched a perpetuals contract, not necessarily because they dont want exposure, but because the on-ramps have never been there. Were changing that,” Seong Seog Lee, Head of Product at Robinhood Crypto, told CoinDesk. “Users in over 120 countries can now access gold, silver, FX and crypto perps on Lighter directly within Robinhood Wallet,” Lee said. The bet appears to be that distribution, consumer relationships and wallet integration can bring its users, who may not be using onchain finance, into blockchain markets without requiring them to seek out specialist crypto platforms. The challenges right now are that the networks activity remains concentrated in speculative memecoin trading, while its original pitch for real-world asset business remains small. Robinhood Chain generated about $878









