I've been building for today for over a decade

When I first encountered smart contracts in 2013, I was immediately fascinated by the technology. At that point, I didn't yet dream of the new crypto-native verticals that would emerge; but it was the idea of rebuilding the existing system that drew me in. Smart contracts could replace trusted systems with trustless systems, redefine interpersonal interactions, and ultimately provide new, open, more efficient, and more accessible rails to build the world's financial system. We set out to build Arbitrum because we understood that we'd need a multilayer design to meet the massive global demand that would emerge.

Robinhood's launch on Arbitrum today is exactly the future that I envisioned. Today's announcement isn't about a traditional financial institution supporting crypto assets. That's old news, and indeed Robinhood itself has long supported trading crypto on the platform. Today's announcement is so much bigger. Robinhood isn't just supporting crypto; crypto is supporting Robinhood. Robinhood is utilizing Arbitrum's technology to grow its core business, expand into new markets, and offer EU customers a trading experience that's on par with the one U.S. users know and love. The only difference is that these new frontiers will be fully powered by crypto.

Robinhood is the first major fintech company to fully leverage the power of crypto not as an asset, but as a core technology stack that is the next evolution of finance. On a CNBC interview last week, Robinhood CEO Vlad Tenev elegantly laid out these two different roles of crypto in a segment that highlighted just how forward thinking Robinhood is in its embrace of crypto:

"Crypto itself – there are two ways to look at it. One, as a tradeable asset...the other is as a fundamental underlying technology. And in the second lens, it's the next stage of evolution. We've gone from paper and pencil, filing cabinet-based financial services to mainframe, to on-premise and more recently, cloud. Now crypto is the next stage of that....In the future, crypto technology will power trading and all sorts of financial services...so the two will fully merge and I think Robinhood will play a big role in that."

As Vlad so clearly lays out, Crypto is not just as an asset but a technology stack that can be utilized to completely rebuild and revolutionize the current system.

It's not DeFi and TradFi; it's just Fi

For too long, people have viewed DeFi and TradFi as two separate systems, but this approach lacks ambition. Crypto is not some alternative system. Crypto is the evolution of the current system and quite literally the future of finance. Looking forward 5 years, it won't be DeFi and TradFi; it will just be Fi, and crypto will be front and center. Today's news is a pivotal moment towards realizing that future, and not surprisingly, Robinhood is leading the way.

Crypto in the background

I've long said that, ironic as it may seem, Arbitrum's success will be measured by its ability to fade a bit into the background. We won't be able to go mainstream if every user has to manage keys, connect to RPCs, and read block explorers. Self custody is a killer feature of crypto but crypto also has to be accessible to those who don't want or don't have the ability to manage those details.

Today's announcement is a complete embodiment of that. Robinhood is utilizing Arbitrum technology to bring its flagship product to European markets. EU users will enjoy the familiar, beloved and seamless Robinhood experience in the Robinhood App. Crypto is doing lots of the heavy lifting and powering this experience, but in a way that's largely abstracted away from the user. Robinhood is directly integrating Arbitrum technology into its retail mobile app in a way that will be accessible and familiar to all users, whether they are crypto-native or not.

Aligned values

I've long admired Robinhood, the amazing products and community that Vlad and the team have built, and their relentless commitment to democratizing finance for all, a mission that aligns deeply with the core values of Arbitrum. Arbitrum has always been about accessibility.  Accessibility by removing the barrier to entry and enabling builders to build financial primitives that would be impossible for them to launch in the traditional system. Accessibility by lowering trading fees and making onchain finance accessible to all, not just whales. Accessibility by giving financial tools and access to people anywhere in the world and of all socio-economic statuses. And today, accessibility by supporting Robinhood in democratizing finance globally.

It's no surprise that Robinhood is once again ahead of the curve and leading the charge for the next generation of crypto-powered finance, and I could not be more excited to be working alongside them in expanding the reach of crypto and taking a big leap towards both democratizing finance for all and realizing the vision of Arbitrum Everywhere.

As I think back to my earliest encounters to smart contracts over a decade ago, I'm humbled and honored to have contributed to the future where the world's financial system is finally being rebuilt on blockchain technology. And given our long term commitment to accessibility, it's poetic to me that we're doing this alongside Robinhood, a company which has long been committed to democratizing finance for all.