Robinhood Chain TVL Jumps 45% This Month as Stablecoins Outpace Tokenized Stocks

Robinhood Chain’s total value locked has climbed above $540 million, marking a gain of more than 45% during August alone. The network has continued setting fresh highs even as the mix of assets driving that growth shifts in an unexpected direction.

Tokenized Real-World Assets Lose Ground Relative to Overall Growth

Tokenized real world assets on the chain now stand at $32 million, representing 120% growth month over month in absolute terms. However, that growth has failed to keep pace with the chain’s overall expansion.

Tokenized assets made up nearly a third of total chain value back on July 7, but account for just 6% of TVL today. In practical terms, total value locked has grown roughly seven times faster than tokenized real-world assets since the chain launched, even though the platform has positioned tokenized equities as its flagship use case.

Stablecoins Drive Much of the Growth

Stablecoin market capitalization on Robinhood Chain has reached approximately $640 million, up more than 22% so far this month. Most of that increase has come from a single stablecoin, USDe, which now sits at $286 million after growing nearly 50% since the start of August. USDe currently accounts for 44% of all stablecoin supply on the chain.

House Stablecoin Growth Stalls

By contrast, USDG, the chain’s native stablecoin, has seen its growth flatten, holding steady in the $330 to $350 million range over the same stretch. That marks a notable shift from the chain’s early days, when USDG dominated with more than 92% of total stablecoin supply during its first week.