Bankless Robinhood Chain Takes on NYSE/Nasdaq | Robinhood Crypto GM Johann Kerbrat
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Feb 11, 2026 Johann Kerbrat, GM of Crypto at Robinhood, leads the company’s tokenization, L2, and wallet efforts. He breaks down Robinhood Chain’s testnet and finance-first L2 design. They discuss tokenized stocks vs traditional exchanges, liquidity and routing solutions, the role of a Robinhood-certified app program, and how wallets and institutional integrations fit the new onchain stack.
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EU Launch And Rapid Expansion
- Robinhood launched stock tokens first in the EU and expanded from 200 to over 2,000 tokens since June.
- U.S. citizens currently cannot access these stock tokens due to regulatory uncertainty.
Liquidity Solved By Routing And Connectivity
- On-chain liquidity is the core constraint for tokenized equities and affects DeFi composability.
- Robinhood plans to solve liquidity via routing and connecting multiple venues, creating arbitrage that aligns token prices with underlying assets.
Liquidity Enables New Credit Primitives
- Deep on-chain liquidity unlocks lending, credit lines, and using diverse tokenized assets as collateral.
- Robinhood envisions mixing public and private tokenized assets for broader financial uses like mortgages.