Robinhood is making its biggest bet on crypto yet, announcing on Monday that it’s developing an Ethereum layer-2 scaling network for trading digital representations of assets like stocks, while similar products exist already on competing networks like Solana.
For Johann Kerbrat, Robinhood's crypto general manager, the existence of multiple projects is frustrating. Tokenization becomes less beneficial when a digital version of the same stock is issued across multiple networks beneficial because activity is siloed across ecosystems, he told Decrypt.