Online brokerage Robinhood posted record second-quarter financial results, driven by strong growth in traditional asset trading even as its cryptocurrency transaction revenue declined 38% year-over-year to $100 million. Total net revenue surged 32% to $1.31 billion, while net income rose 48% to $573 million. Despite the drop in crypto transaction fees, overall digital asset activity remained substantial, recording $40 billion in quarterly crypto trading volume, comprising $18 billion from the core Robinhood app and $22 billion via Bitstamp.
The brokerage continued to aggressively expand its digital asset footprint during the quarter by deploying core blockchain infrastructure. Robinhood officially launched the public mainnet for Robinhood Chain, introduced tokenized US stock trading to eligible international users across more than 120 countries, and debuted its first decentralized lending product, Robinhood Earn.
Additionally, the company completed its acquisition of Canadian crypto platform WonderFi and advanced plans to launch crypto services in the United Kingdom. Early adoption for automated features also grew, with nearly 100,000 customer accounts enrolling in Agentic Trading, representing over $100 million in assets under custody.
