Key facts
- The company behind dYdX has rebranded as Arcus and launched on Robinhood's new blockchain.
- Arcus will offer perpetual trading and fee-free trading of 95 tokenized stocks.
- Robinhood Crypto made an investment in Arcus.
- The dYdX blockchain is unaffected by this development.
- Bitget Wallet and 1inch will support Robinhood Chain.
The decentralized exchange protocol dYdX has rebranded as Arcus and will launch on Robinhood's newly released Arbitrum-based layer 2 blockchain, Robinhood Chain. This move aims to provide users with access to perpetual trading and fee-free trading of tokenized stocks, addressing market access barriers.
Arcus, created by dYdX Labs in partnership with Robinhood, seeks to democratize access to global markets, including U.S. equities, commodities, and indices. The platform plans to go live this month, enabling tokenized stocks to be used as collateral for perpetuals and offering access to pre-IPO markets.
Robinhood Crypto has invested in Arcus as part of its broader strategy to expand into tokenized assets and perpetual trading, areas experiencing significant growth and regulatory attention. This initiative follows Robinhood's efforts to compete with platforms like Hyperliquid, which has seen substantial gains in its token price this year.
The dYdX Foundation clarified that the original dYdX blockchain remains unaffected and continues to operate independently under community ownership. Meanwhile, other platforms are also expanding their offerings; Coinbase has introduced stock trading, and its Ethereum layer-2 blockchain Base has gained significant traction.
In related developments, Bitget Wallet announced a partnership with Robinhood Crypto to integrate the Robinhood Chain, allowing its users to trade tokenized stocks. The decentralized exchange 1inch also confirmed it would be among the first major platforms to support Robinhood Chain.