Robinhood Launches Arcus DEX with dYdX Labs
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- Robinhood is launching Arcus, a new decentralized exchange built with dYdX Labs, with perpetuals and tokenized stock trading set to go live this month
- Arcus will allow tokenized stocks to be used as collateral for perpetuals and provide access to pre-IPO markets, per the protocol's blog post
- Robinhood Crypto made an undisclosed investment in Arcus, as the retail-focused platform looks to compete with Hyperliquid, whose token has climbed nearly 150% year-to-date
- The dYdX Foundation clarified that Arcus is a "distinct, independent product" running on separate infrastructure from the dYdX blockchain, which remains community-owned
- Bitget Wallet announced a partnership with Robinhood Crypto to integrate Robinhood's blockchain, enabling its users to trade tokenized stocks
- 1inch said it will be among the first major swap platforms to support Robinhood Chain
Why it matters: Robinhood is taking a direct shot at Hyperliquid's 150% YTD token rally by entering perpetuals with a retail-friendly DEX, and the tokenized-stock-as-collateral feature creates a new on-ramp linking traditional equity exposure to DeFi trading within a single venue.
