Bankless - The Rise of Robinhood Chain: Tokenized Stocks, Perps, and 27M Users | Johann Kerbrat

Episode Date: July 6, 2026

Robinhood Chain is live, and it may be one of the clearest signs yet that traditional finance is moving onto Ethereum rails. Johann Kerbrat, VP of Crypto at Robinhood, joins David to unpack the launch of tokenized stocks, USDG yield through Morpho, regulated and crypto-native perps, the Lighter integration, and why Robinhood Wallet is being built for the billions of people who have never used crypto before. --- 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium --- BANKLESS SPONSOR TOOLS: 🔮POLYMARKET | #1 PREDICTION MARKET https://bankless.cc/polymarket-podcast 📊BITGET | TOKENIZED STOCKS 2.0 https://bankless.cc/bitget-stocks 🎯THE DEFI REPORT | ONCHAIN INSIGHTS https://thedefireport.io/bankless 👑BANKLESS PREMIUM | AD-FREE & BONUS EPISODES https://bankless.cc/spotify-premium --- TIMESTAMPS 0:00 Intro 1:45 Robinhood Chain Goes Live 2:45 Robinhood’s 15-Product Crypto Push 5:47 Tokenized Stocks on Robinhood Chain 11:32 USDG Yield and Robinhood Earn 16:19 Perps Across Robinhood, Bitstamp, and Lighter 19:44 The Lighter Partnership 23:12 Will Robinhood and DeFi Converge? 27:15 Why Robinhood Chose Arbitrum 28:40 Building Crypto for Non-Crypto Users 31:36 How to Get Started on Robinhood Chain --- RESOURCES Johann Kerbrat https://x.com/JohannKerbrat --- Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures

On Wednesday of last week, Robin Hood held their The World is Flat event, where they launched the Robin Hood chain, along with a huge collection of ecosystems and partners and integrations. The world is flat name is a tip of the hat to the fact that Robin Hood wants to democratize access, flatten the world to have access to financial products using blockchain technology. And after watching that event, you don't really have to squint your eyes very hard to see the future of finance being rebuilt right before our very eyes. tokenized stocks issued by Robin Hood are freely and permissionlessly transferable around the Robin Hood chain and on and off the Robin Hood chain to the Ethereum Layer 1 and the rest of its layer 2s. Morpho is integrated into the main Robin Hood app offering Robin Hood customers, the 27 million Robin Hood customers, 7% yield on USDG stablecoin deposits in a non-custodial section of the main Robin Hood app. They've expanded perp offerings to EU and Canadian customers of Robin Hood, and they have a full feature-complete integration of lighter, the ZKL2 Purp decks on Ethereum, inside the Robin Hood wallet.

So we now have one-to-one backed tokenized stocks with dividends and investor governance rights, if you want to do that, trading on Uniswap, creating a 24-7-365 marketplace for U.S. equities. And you can see the purpification for these things, just right around the corner. So today on the show, I talked to Joe Honkkerbott. He is the general manager of crypto at Robin Hood who has been trying to build this ecosystem for the last five years

to get more details of what's being released. And it's just nothing short of exactly what we imagined the future of finance looking like just a few short years ago. Johan, welcome back to Bankless. Bankless Station, I'm here with Johan Kerrott. He is the VP of Crypto at Robin Hood. We just came out a pretty hot event

out of the Robin Hood ecosystem, the launch of Robin Hood chain with Johan, you have been working on this as long as I've known you at Robin Hood. It's got to feel pretty good to get that out the door. Yeah, it was pretty exciting. And, you know, we did an event in London in a very, very cool place with, like, painting on the wall and on the ceiling. So that was really cool to be there and see all our customer and hearing the cheers when we finally announced the chain.

So that was, that was great. The name of the event was the world is flat. Why was it called that? Well, you know, Vlad is an amazing inventor and thinking about a lot of things constantly. And his vision was like, how do we show that using blockchain and using crypto, we can actually, remove all the inequalities in the world and actually make a person that are anywhere in the world

able to access and get exposure to U.S. stocks to PURPS to all of these products. So that was kind of the idea behind it. One thing I noticed, the Hood stock was up like 8, 9, 10% on the, just all of the announcements, the Robin Hood chain, tokenized stocks, the PURP decks, the wallet, the yield.

From the crypto side of things, it feels good that the market is responding positively to crypto news, is not usually what is normal in the case in the last like 12 months or so. So it's just like you are the VP of Cryptoab Robin Hood. So like, thanks for doing all the right stuff

that the market likes. I'm sure that must feel pretty well. Yeah, you know, I think for us, what's been exciting with this event is really that we can show to our customer or product velocity. You know, last year we announced a lot of things and this year we actually delivered

on a lot of this thing that we pre-announce. And on top of that, we added way more announcement that we were expecting. Just yesterday we announced 15 products. So I think a lot of our customers, like, said about that, they see our product manager on stage with us and presenting all these new tools and feature that they can access on Robin Hood. And on top of that, I think it shows that, you know,

Robin Hood has been one of his companies that has uniquely been able to ship so many feature at once and always with the customer at the center, They're making sure that, you know, what we ship is what they actually care about and they like it. They know how to use it. They are interested by it. So, yeah, overall, pretty excited about yesterday. Markets don't move one asset at a time. One day, it's Bitcoin, the next Nvidia, then gold, and then the S&P.

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multiple markets, crypto equities, commodities, and more, all accessible with the USDT. BitCat. Trade Smarter. Start trading today through the link in the show notes. This is not investment advice. Some exciting news. We are launching a new podcast. to help people figure out the crypto cycle, how to navigate it. The best crypto cycle investor I know, his name is Michael Nato. He runs the Defi Report. This is the guy that sent me a sell alert before the 10-10 price drop happened. His cycle analysis has been absolutely on point.

I've been following him for years. And this year, we started recording weekly podcast episodes. Each one we get into his portfolio, what he's holding, the market structure, entry targets, fair market value of Bitcoin and Ether. And where we are in the cycle, there's new episodes that are released every Wednesday. They're 30 minutes. They're short. They're punchy. I think this crypto cycle is harder to navigate than most. So let's do it together. Go subscribe to this podcast. Search the DeFi report wherever you get your podcast, YouTube, Apple, Spotify, or find a link in the show notes. There's a new episode waiting for you now. I've got some questions about those products that you guys release. So I'll just start going one by one. Let's start with tokenized stocks. I think this is probably the one that people found the most interesting. It touches the most amount of things, I think, on the crypto side of things. But just the implementation. details, the technical details, how does a stock on Robin Hood become a Robin Hood tokenized stock on Robin Hood chain? What is that process like? Yeah, so currently the system is a little

complex just because of the fact that the US is not part of it just yet, but we have our exchange bit stamp that is basically our exchange that is connected to all the institution. Institution can come to BitStamp and buy the stock tokens and then bring them on chain to one of the different Dexies that are available from Uniswap to lighter, Arcus, and many more. So that's currently how it's happening. But in the future, we want to find ways to simplify all this process. What about just like the basic investor governance and dividends that one would have if I own stock on the Robin Hood brokerage?

Do I still have that if I own the stock as a token on Robin Hood chain? Yeah, so dividends will pay them. Corp Action will also support them, all this kind of stuff. So for us, that was pretty important. The stock tokens also back one to one. So, you know, that's something that is very key, I think, for the trust of the product. And on top of that, you know, if anything happens to Robinode, the position of the customer is secure as well. So that was something also important.

And what's really cool, I don't know if you saw it yesterday, but we showed how it interacts in the wallet. If you're in one of the eligible countries, and you're really able to look at all the stocks. You can see the price moving. and some information about the stock token on the page. You can buy it. Yesterday was the first time that we were really trying it live. So it was pretty cool that everything worked during the event. And the other cool part is you can actually utilize the stock tokens for other things.

You can use them on chain or you can use them as collateral. I'm sure we'll start to see like landing pool around it. So, you know, you can really do more than if you were just keeping them on the brokerage. And the other thing that we showed yesterday is how you can send. them to somebody else to another wallet, which I think is a pretty unique thing that shows really the power of the blockchain. When you try to move your brokerage account to another brokerage account, you have this process that you call ACAD takes multiple days, sometimes weeks, sometimes you lose the cost

basis, you lose information. But here, everything is on the blockchain, right? So you have all the information available on blocks. And so I think that really shows how powerful this technology can be. and the more the, you know, the regulation will come into place, the more we'll be able to expand it to more jurisdiction and I think that's really going to change how we interact with exchanges. One of your guys' launch partner was, of course, Uniswap,

and it was pretty cool to see the Robin Hood tokenized stocks inside of the Unoswap interface. It's just like when we saw Unoswap be launched in 2019 and 2020 and saw all these, like, you know, early primitive tokens, we all kind of imagined, you know, one day there will be stocks in here, and now we're actually seeing that. But that's on the Robin Hood chain, the Uniswap instance on the Robin Hood chain. Are the Robin Hood stock tokens able to be transferred to the Ethereum layer one?

Yeah, and we, you know, we saw different bridges happening already on the chain. It's freely transferable across the Ethereum ecosystem. Right. And that's really the mint and redeem where you have to utilize one-on-four platform. But yeah, it's been really cool. know, the chain is not even live for 24 hours. I mean, technically it was live for a couple of days before, but like we really just announced a launch less than 24 hours ago and we saw a million transactions already.

So I think that's what we're excited about is to your point, that connection between crypto first platform like Uniswap and other and then the more traditional side of the world like Robin, who are connecting together and really merging and creating a world where you can see this enthusiasm from the community. Did you say that in order to transfer a Robin Hood tokenized stock to the Ethereum layer one, you have to go through a Robin Hood Mint and Redeem function, or is it more permissionless?

No, no, I meant like it's a permissionless chain. You can do all the things. The only thing where you will need to interact with Robin Hood at this point is to mint and redeem your token for either the stock or the equivalent in cash. Right. Okay, so if I hold like an Apple share as a Robin Hood stock token, I can send it to Robin Hood and redeem an Apple share inside my Robin Hood brokerage. So currently we're not offering it, but that's something that we're working on for

institution especially. We think it's going to be something pretty important. But right now you can sell to Robin Hood. And then the Robin Hood tokenized stocks, those are freely transferable between parties. And does all, does the receiving party need to be K-YCed with Robin Hood? Or is that also a permissionless transfer function? No, currently it's permissionless. So if you utilize our wallet, it's very well done. Like I showed a demos the other day where it's really like you're transferring any any crypto asset in the future we also want to find ways to make it more easy to find between you know like you mentioned your actual brokerage account and all these kind of things but that will take a bit more time i want to

ask about a usdg which is the the stable coin issued by paxos i think you guys are a partner with paxos and then depositors is depositors who deposit usdg inside of the robin hood app this could send into more But that gives 7% yield for those who deposit. How does 7% is above any competitor that I see in the market. How does, how do you does Robin Hood generate 7% for the depositors? Yeah, you know, I think for us, what was really interesting with this product was the fact that it was in the main app. So it's not part of our wallet. It's really within the main Robinhood app that is used by tens of million of customer in the US.

And the really cool part about it is when you start entering this flow, we actually create a smart wallet for. you. It's a self-custody wallet, so you can eventually export the key if you want to and import it in your wallet or do whatever you want with it. And so that I think was really cool because for the first time we're already starting to merge the two worlds together, even more than we were doing before. And then you can deposit as much as you want, obviously. You can start for just cash. Part of the flow, you will have to buy USDG and we made it super easy for you. You can also withdraw at any time. And yeah, on the on the on the, the yield, you know, I think for us, one of the big things that we were worried about is that

some of our competitors, when they launched similar products, they started with a euro rate, and then, you know, within a few hours, the rate will drop. So we spend a lot of time working with all our partners to make sure that we could actually have a hero rate that will be stable for a while. So it's approximately 7% to your point. And the reason why, you know, we're able to do this higher rate is just the fact that you're just bringing like a giant like robin. with all partners, market makers,

that are creating new pools for all the products that were launching. And so there is a bit more demand around the rates. But for us, you know, I think it's when I joined Robinu like five years ago, a bit more than five years ago, my goal was ready to find a way to bring crypto to the masses. And this is probably the biggest step we did to actually do that. Talk about YUSDG.

Talk about that partnership or that integration with Paxos. Yeah, so we are part of the global dollar network. We are one of the founder member. And what we like about USDG is that the NIM generated through the treasury that are held for backing the USDG token is actually shared with a member of the network. And I think that's a big difference from what you're seeing with some of the other stable coin where, you know, it's mostly kept by the issuer. And the reason why we want to push the boundaries around this is that we want to encourage people to actually hold a stable coin. Right now, if you're an institution and you use another stable coin,

you're kind of at a disadvantage. Like, your interest will be to sell as soon as possible your stable coin and to buy cash to make name on your cash with a normal traditional bank, which in that situation, I remove a lot of the advantage of having a stable coin. You can't move it as quickly. you can't do all the stuff that you should be doing with collateral. So with USDJ, it's the opposite, right? You still get the name.

So for you, it's not as important to go back to cash. You can keep the USDG on your account. You can use it for all the things that you want to do from funding a pool, using it as collateral or anything like that. And so that's why we want to support that stable coin, and that's why we create earn, Robin earned through that stable coin as well. And I mentioned that you deposit USCG and it goes into Morpho. That part is correct, right?

So Morpho is not just integrated into the Robin Hood wallet, but the main Robin Hood application. Is that true? That's right. So Morpho created vaults on the Robin Hood chain, and both the wallet and the main Robin Hood app will interact with it. Same thing. The Robin Hood app utilizes a smart wallet

that is a self-custod wallet for the customer, and that's connected to Morpho. We are using Stakehouse as a curator, And we also have other partners like ECNAF, for example, that are going to help with all these products. But technically you don't need to use the Robbins app if you want to connect to one of the vault, you can directly go on the Robin chain and deposit there.

Let's talk about Perps. So there's a handful of different integrations with Perps. One of them was an expansion of non-crypto perps. So things like Gold, Silver, QQQ, WTI. and then there was the crypto-native perps directly in the Robin Hood wallet. That one, the crypto-native perps in the Robin Hood wallet, that was an integration with lighter.

Was the earlier stuff I was talking about, the non-crypto-asset perps? Was that with BitStamp, the exchange that you guys bought? Okay, so there's a delineation there. Talk about both of those things and how you guys divide that up. Yeah, yeah, absolutely. So we are one of BitStamp and Robin Europe

are one of the only marketplace or exchange where you can trade perpetuals in a platform that is regulated. So we have a MIFID license for BITSAMP and we have a MIFID license for WRAB in Europe and we're offering this product there with up to 10X of leverage. And I think it's important because for a lot of customers, they still don't want to go on DFI, they still don't want to use a wallet.

They don't want to connect to platform like Hyper Liquid and other where you don't necessarily know exactly what's going to happen. And so we have a platform where, you know, you can reach out to customer support, you can buy stock tokens, crypto, and also the perpetual that are regulated. It's one of the most sticky products that we've launched in Europe, and we've seen a lot of demands for this other type of assets,

from commodities to ETF, and especially during the weekends for the past few months, like you've seen oil, for example, moving quite a bit on some of this market. So the demand was strong. We're excited to launch that. It's seven new contracts from silver gold to QQQ as an ETF and other. And I think it really brings diversity and different products for our customer to try. And then, you know, one of our mission is to expand across the world, right?

So we can't go to every single country and get a license and implement all the system because it just takes a while. And so we are doing it one by one. You know, we've done it with Europe. We also launched Robin Hood in Canada yesterday. We also live in the UK and in other countries. So, you know, we are going as fast as we can. But for the rest of the world, what we are thinking was really, how can we use crypto and blockchain to actually accelerate the expansion of Robinode?

And so we have this Robin wallet. It's available in 100 plus countries. And in the eligible places, you can see the perpetual experience. It's a separate tab. It's connected to lighter. you will see all the contracts that are available with leverage up to 20 to 50x depending on the contracts.

And basically the interface is really, really proper to Robin. Like we made sure to implement all the things that work very well in the EU. You can decide on your margin using a slider. Same thing with leverage. And, you know, obviously, like, we'll see how it goes, but I think we'll see a lot of people being really excited about having this simple UI and UX

to trade with Perps. This lighter partnership inside of the Robin Hoodwell I find pretty interesting. During your section of the presentation yesterday when you were talking about them, you ended it with, we will continue to deepen our collaboration

with them being lighter. What does that mean? Well, a ton of stuff. We think this is just a beginning. I think Perpetual is a great way to trade differently from opening long, shorts, different type of products.

You don't have the same structure or some other similar but not similar products as like CFDs, for example, that are pretty different. So I think we're just at the beginning. And I think it's one of this kind of crypto primitive that is actually going to make its way into more and more of traditional finance systems. So I think for us, we want to make sure that when we create partnership, we create this deep relationship. One thing that we announced, for example, is that Lider is committing about 11 million worth of Lid token. And that will start in August 1st.

When you start trading either directly on Lider or using Web, you will get one point. If you use the Robin Wallets, you will get two points and we'll start spitting the pool of tokens through that. And, you know, that's the kind of stuff we want to do. But I think, you know, there is a lot more that we can do. And so we will show what's possible in the future. but I think this is just a beginning for us.

One thing I thought was pretty interesting was that Lider built, their engineers, they have a bunch of forward-deployed engineers, they built a custom instance of Lider on the Robin Hood chain. So rather than the Robin Hood wallet pointing to the Lider ZKL2, the Lider engineers just built you guys

an instance of lighter on the Robin Hood chain. Why did you guys want that? What does that do for you guys? Yeah, it's a little more complicated. Like it's not fully an entire, exchange that is on our chain, but basically it's sell using the robin chain. I think for us it's important because we want to make sure that everything that are connected to our products or the warbium products, we can control a lot of the UI, UX, all the rules

that we put in place. And, you know, we want to make sure that it's also contributing to the ecosystem. So the robin chain is brand new. We want to make sure that we can have all the partner of building on it and really develop on top of it. So we have the non-cryptopurps, which is serviced by BitStamp, and that is in the main Robin Hood wallet, like the normal Robin Hood wallet, but only available.

Is that, oh, is that not right? It's in the Robin Europe app. Right. Oh, that's a separate app. Right. It's like, it looks like Robin Hood. If you're in the US and you're used to it, but it's in Europe. That's a regulated platform.

And then the Robin Wallet or Defi self-custody platform, that's connected to lighter through the Robin Exchange. Okay. And you guys are just waiting, like everyone, else is for clarity from the regulators, the CFTC, to put PURPS in the main Robin Hood app. I think, you know, we would be lying if we wouldn't say that we are interested in that. We have the technology. We build the UI, the UX. We know our customer love it. So for sure, when we get clarity on this point, it's something that we'll be interested in.

What is the long-term balance between the Robin Hood wallet and main Robin Hood core? because if you want to put perps, which is a, it's not only a, it's just a neutral instrument, but, you know, crypto kind of created it. We have the back end for it. If you wanted to put perps inside of the main Robin Hood wallet, you already have a stable coin getting 7% yield in Morpho in the main Robin Hood wallet.

How do you think about the long-term equilibrium between the main Robin Hood app, which is the dominant source of your guys' users and AUM and all the activity versus the Robin Hood wallet? Like, eventually might these things be the same? Or do you think they'll converge or divert? No, I think, you know, our vision is really that the traditional systems are going to slowly replace our technology with blockchain technology. It's just faster.

It's broad proof in terms of like verification. You can see the history. You have decentralization, fractionalization by default. And so I think slowly we are going to start seeing more and more features where, you know, instead of using the classic clearing system that we have for stocks, it will be a blockchain-powered clearing system. And same thing with the yield or the earned system that we put in place. You know, right now it's using a smart wallet,

but the smart wallet can do a lot more things. So I think it's just a function of like what is the regulation in the different countries, what are the proper system to put in place to make sure that customer understand what's going on. But based on that, I think the two worlds are going to converge more and more. and you know if you start using a robin wallet that is like fully defy fully self-custodial

the the experience to buy perps or to even fund your wallet is becoming more and more easy like you don't necessarily need to send crypto to fund your wallet you can actually use fiatriles either apple pay or google pay to start funding your wallet you can open the the perps like i said like very in a very simple way you don't have like 20 things to approve where you'll never really sure what's going on so So, you know, we spend a lot of time making this UX simple, and I think in a lot of countries where we are not live as a, you know, license platform, we will actually be able to start seeing the wallet for a lot of for customers being a good solution for them. Would you say that if and where it makes sense, if Robin Hood can put some of its business logic on chain, again, just like USCG on Morpho, for example, and, you know, the perps on lighter, if it can put its business logic on chain, it will. I think if there is a benefit for the customer for sure.

And that's what happened with a, you know, Robin and Earl program. We felt like this was a much better solution for our customer than what's out there currently. And so, you know, there was not even a question of should we do it or not? It was more like, how do we do it? And I think if tomorrow we have a product that we think can benefit from blockchain and reduce the cost to the customer, for example, you know, why not doing it? as long as it can fit the requirement that we have from our regulation, you know, it's in the advantage of the customer.

So let's do it. Hey, Bankless Nation, it's David. If you're hearing this, that's because you are listening to the free Bankless podcast feed. Did you know that there is a premium bankless RSS feed? The premium feed has extra interviews that I do for my own personal research and just deeper questions that I want answered about the crypto industry, questions that I want to answer so I can be more informed as an investor,

both at Bankless Ventures and also just in my own personal portfolio too. Also, there are no ads, which means if you listen to the preempts, premium feed instead of the free feed, you'll get about 20 hours of your life back every year because you choose to support bankless directly. So if you're interested in getting extra content all while skipping the ads or you just appreciate what we do here and want us to keep doing it, we'd appreciate it if you signed up for bankless premium. And there is a link in the show notes to get started. Cheers to a good 2026. One thing that I think is cool about this is that blockchains are just fantastic business models. They're pretty low overhead to run and chain fees can turn into something pretty substantial. One of your guys' partners is Arbitrum, of course. The Robinhead chain is an Arbitrum orbit chain. How has your experience working with Arbitrum been? Would you recommend Arbitrum to other institutions building chains on Ethereum?

Yeah, absolutely. So we partner with OffChain. They are helping us put the chain in place. They've been awesome to work with, honestly. And I think what we like about Arbitrum is multiple. There is stylus. You know, you can use any kind of language or multiple language like Russ, for example, to write instead of just being stuck to the one language or based on

Ethereum. You can also have a priority system that is a bit different. We think the gas fees are pretty low. So far, we've been very happy with the latency. So, you know, I think for us, Arbitram was a great choice and we're happy to be part of the family now. And, you know, being part of EVM where we can easily bridge between all the big chain was also big elements that we were excited about. And we see. still rely on isaium for the overall security and decentralization. So I think that's, so far, we've been pretty happy with our choice. Well, the Robin Hood is one of the few companies that I actually do look at the S-1s every quarter when Robin Hood submits its S-1. And so I'm

going to be pretty excited to see a new line item in the Robin Hood S-1, which is the Robin Hood chain and everything that has benefited from that. Yo, Johan, there is another Robin Hood event coming up in about, I think, Q3 in Texas. I've signed up to be a moderator at that event to talk about the Robin Hood Wallet with somebody from your guys' team. Oh, that's awesome. Any advice for me, any questions I should ask, what would you think that I should talk about in a few months when it comes to the Robin Hood Wall at this event? Well, you know, hopefully by then we'll have a few more announcements, so hopefully you will talk about them. But I think seeing, you know, talking a bit about the ecosystem around it, I think

is interesting. You know, I've been in the space for a long time and a lot of time I've seen chain going after developers to find ways to get them excited to build on the chain. Here the situation is a bit reverse. People are really excited about having the distribution coming from Robinoon and having all these customers that are not necessarily crypto first, but actually excited about using crypto if it's better for them. And so that's what I think we should talk about a bit more. Like how do we continue to bring more of this non-cryptop person into the space and maybe

speak a bit less about protocols and all the technical stuff. That we can leave it for the engineer but actually shows a benefit to the customers. Are you building and designing the Robin Hood wallet to penetrate into the crypto market and compete with things like Phantom,

Metamask, you know, the base app? Or are you building Robin Hood wallet to target a new audience that has never really been on chain before but perhaps they'll like it because of all the cool tools that you guys have? Yeah, I think the latter, you know, we are pretty much more focused on easy to use, simple UX, simple UI, educational tool.

We really think that blockchain is a better solution for a lot of the financial system. And so we want to find a way to get people to use it. But the reality is that blockchain was made by engineer for engineer. You know, the first time you have to enter all this world to create a passphrase, then you have to create bridges and transaction to just fund your wallet for the,

the first time, every time you have to pay fees, you have to connect to dexes and all this stuff. All of that is so complicated. We are losing like 90% of the population, even though they could benefit the most from having like the blockchain technology, lower fee, lower cost. So I think for us, the idea is that,

you know, there is multiple billion of people on the planet that are not using crypto. How do we bring them into that space? Johan, thanks for coming on the show today. Thank you. See you soon. If one more question, actually. If somebody wanted to get started on Robin Hood Chain,

what activity would you recommend? Where should they go first? What can they do there that you would do if you were coming onto Robin Hood Chain first? Yeah, we have all the darks on our platform if you want to develop on it. But also, you can use our wallet. You will see a tab for PURPS.

You can search tokens and all the stock tokens that we launched recently. And yeah, give us feedback. Honestly, I think that's the most exciting part. We want to build with customer. We want to build with you. So if we're missing anything, let us know. And we'll try to prioritize it.

John, thanks for coming on the job. Thank you. Bankless station, another gargantuan blockchain added to the Ethereum ecosystem. That's pretty exciting for all of us. But nonetheless, crypto is risky. You can lose what you put in. This is Frontier. It's not for everyone, but we are glad you were with us on the bankless journey.

Thanks a lot.