Robinhood Stock Is Rising: What's Happening Behind The Scenes?

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.

Robinhood also rolled out a lending product called Robinhood Earn, through which users can put its USDG stablecoin to work via a self-custody wallet and collect a projected annual return of 7%.

Robinhood Live Event Today Robinhood has stated it will present “The World is Flat,” a live event hosted at the historic Old Royal Naval College in London by CEO Vlad Tenev and SVP of Crypto and International Johann Kerbrat.

The livestream will begin at 2 p.m.

ET.

June Trading Volumes The product announcements build on a strong recent trading backdrop.

Through June 25, Robinhood reported equity notional trading volumes of about $343 billion, options contracts traded of approximately 274 million and crypto notional trading volumes of about $14 billion for the month.

Event contracts traded came in at approximately 5.2 billion.

Full June operating data will be released alongside second-quarter earnings.

HOOD Shares Are Climbing HOOD Price Action: Robinhood shares were up 8.42% at $108.72 at the time of publication on Wednesday, according to Pro.

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