Robinhood activated its public mainnet on Arbitrum four months after testnet launch while disclosing plans for UK crypto trading and new DeFi tools. The developments follow a 10 percent workforce cut and a nearly 50 percent drop in crypto revenue.
On Wednesday the firm revealed that its L2 network, which it called “AI-native and purpose-built for real-world assets,” had moved from February’s testnet into full operation.
The company unveiled Robinhood Earn, enabling holders to lend the dollar-backed stablecoin USDG from a self-custody wallet for an estimated 7 percent annual yield.
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Visa, Mastercard, Coinbase and over 140 businesses launched Open Standard to issue Open USD, a US dollar-tied stablecoin expected later in 2026. The move follows the GENIUS Act signed into law on July 18, 2025, which created a new regulatory framework and aims to expand stablecoin use beyond crypto trading.
Taiwan's Legislative Yuan passed the Virtual Asset Service Act on June 30, requiring licenses for all virtual asset service providers and strict reserve rules for stablecoins. The law shifts the island from light-touch AML registration to full FSC supervision with steep criminal penalties.
Getty Images has ended its $3.7 billion merger with Shutterstock after the UK's Competition and Markets Authority required divestiture of Shutterstock's global editorial business. The collapse demonstrates that US antitrust approval is not always enough when other jurisdictions raise competition concerns.
