Robinhood’s stock (HOOD) reached a new all-time high (ATH) after it revealed plans to launch several innovative products, including its own Layer 2 blockchain, tokenized stocks offering, perpetual futures trading, and crypto staking services.

Following the news, the stock surged approximately 11% to $92, a new all-time high for the firm. This extends a growth trend that has seen the shares rise more than 34% this month.

Robinhood’s new product offering

On June 30, Robinhood revealed plans to launch a Layer 2 blockchain built on the Arbitrum network. This blockchain is designed to enhance Ethereum’s scalability while supporting the tokenization of real-world assets.

The platform will offer features such as 24/7 trading, seamless bridging, and self-custody, reinforcing Robinhood’s shift towards becoming a more comprehensive platform that integrates traditional finance and crypto-based products.

As part of this expansion, Robinhood plans to offer over 200 US stocks and ETFs on the Arbitrum network. This will allow eligible European customers to access these assets without incurring commission fees or added spreads.

The company’s CEO, Vlad Tenev, demonstrated the new service at an event in Cannes, France, showcasing the real-world application by executing a stock token transaction for OpenAI on the Arbitrum network.

Perpetual futures

In addition to tokenized stocks, Robinhood is preparing to launch crypto perpetual futures in the European market by the end of the summer. These futures will allow traders to gain continuous exposure to crypto, with leverage of up to 3x.

The firm stated that the orders for the new product are routed through Bitstamp’s perpetual futures exchange.

Robinhood also introduced crypto staking services for US customers, starting with Ethereum and Solana. These services will enable investors to earn rewards by staking their assets to support the blockchain networks.

Johann Kerbrat, GM and SVP of Robinhood Crypto, emphasized that these innovations are designed to make crypto as accessible as possible.

He said:

“Crypto was built by engineers for engineers, and has not been accessible to most people.We’re onboarding the world to crypto by making it as easy to use as possible—with the goal of bringing powerful tools into one intuitive platform.”

The post Robinhood unveils crypto-heavy roadmap that lifts stock to all-time high appeared first on CryptoSlate.