On September 2, a two-month-old blockchain quietly did something worth paying attention to. Robinhood\u2019s L2 Chain, the network Robinhood launched in July 2026 to bring stocks and other real-world assets on-chain, pulled in $4.01 million in daily revenue. That’s more than Solana made that day. More than Ethereum. More than Tron. A brand-new chain, built by a stock-trading app, briefly out-earned the entire crypto industry on pure activity.<\/p>\n\n\n\n
And this activity ushered in a new wave of memecoins, tokenized assets and trading pairs that have people glued to their screens this entire week.<\/p>\n\n\n\n
Robinhood built its L2 chain around tokenized stocks and real-world assets, the pitch you’d expect from a company betting that the next phase of finance happens on-chain. What actually took off first was Pons<\/a>, a memecoin launchpad modeled on pump.fun, alongside GMGN, a popular on-chain trading bot. On the last day of August, Pons alone pulled in $4.89 million in fees, nearly triple what pump.fun made on the same day. Tokenized stocks are still a small share of activity by comparison, at least for now.<\/p>\n\n\n\n This isn’t unusual as far as new chains go. Memecoins and trading bots are often the first thing to show up on any fast, cheap network, simply because they’re quick to build and quick to try. The more interesting question is whether the tokenized-stock use case Robinhood actually wants can grow alongside that early activity rather than being crowded out by it. Robinhood has also been covering gas fees for anyone trading through its own wallet since July 1, a launch incentive that’s due to expire September 29. <\/p>\n\n\n\n Once that subsidy ends, we’ll get a real read on how much of the chain’s usage sticks around versus how much was pulled forward by free transactions, the kind of stress test most new networks eventually have to pass.<\/p>\n\n\n\n While one arm of the company was ramping up a new blockchain, another arm was quietly building something aimed at a very different kind of customer. Robinhood’s Trust Accounts, a product for estate planning and generational wealth transfer, launched in August. CEO Vlad Tenev said this week that the product has already pulled in more than $150 million, with an average account size of about $500,000.<\/p>\n\n\n\nMeanwhile, a Completely Different Robinhood Is Also Happening<\/strong><\/h2>\n\n\n\n