WHAT'S GOING ON?

Robinhood Wallet is Robinhood's self-custodial crypto wallet, separate from Robinhood Chain, the company's public Arbitrum-based layer 2. Crossmint is a checkout provider that lets apps sell memecoins for card payments. Merchant category codes tell card networks what a purchase is. Code 5815 is for digital goods and media. Crypto purchases are often excluded from ordinary card rewards and can face extra restrictions. Crypto Briefing, citing The Block's earlier investigation, said some Crossmint-powered buys were coded as digital media, that JPMorgan Chase flagged the coding, and that Visa confirmed at least one misclassified transaction. It also said the arrangement allowed up to $1,000 a day without KYC, with a $1 million total cap. Fomo is a separate memecoin app named in the same reporting. The change, as described, would recode supported memecoin card buys as crypto transactions rather than stop them. Crossmint's comment that its procedures have not changed, and the still-live checkout, are the limits of what is confirmed. Next week is not a calendar date from Visa.

Robinhood Chain went to public mainnet on 1 July 2026 as an Ethereum layer 2 built on Arbitrum. Official docs still describe it as permissionless, EVM-compatible, and aimed at tokenized stocks and other real-world assets, with ETH as gas. In practice, a late-August memecoin wave made it one of the most expensive networks. CoinDesk said applications earned $2.7 million on 30 August, with token launcher Pons and memecoin terminal GMGN supplying about $2 million as users created 22,600 tokens in 24 hours. At the early-September peak the chain took about $8 million in fees on 13.1 million transactions, or about 64 cents each. By 16 September that was about 2.6 cents. CoinDesk's seven-day comparison through 16 September has Pons volume down 37% to about $616 million and Pons protocol revenue down to $5.8 million, while Uniswap V3 volume on the chain more than doubled to $5.3 billion and Uniswap V4 fell 22% to $4.9 billion. Weekly DEX volume across venues rose 5% to about $12.8 billion to $13 billion. Solana DEX volume in the same week was about $17 billion, down 8%, so the data does not show Robinhood users simply moving there. deBridge flows were a modest net $2 million from Robinhood Chain to Solana. growthepie's 19 September snapshot still ranks the chain first among tracked networks by transaction count, with daily active addresses around 414,000. App revenue on that print was about $6.12 million, far above chain fees. These are third-party indexed figures, not a Robinhood audited report, and they do not split tokenized stocks from memecoins.

Sunrise lists outside assets onto Solana so wallets and DEXs can point at one mint instead of competing copies. Backpack Securities is the issuer named on the listing. Tokenized stocks on Solana can trade when traditional U.S. cash-equity markets are closed. Raydium is a major Solana DEX. StonkFun, posted by @LaunchOnSF , lets users launch new coins paired with the stock token. BlackBerry is a software company whose QNX system Raydium said is used in more than 275 million vehicles. That product note is not a claim about token economics. Earlier Sunrise listings this week, including CYPH, used the same issuer-and-canonical-mint pattern. The Sunrise and Raydium posts do not describe how a holder redeems into a traditional brokerage share, who holds the underlying equity, or who is allowed to buy it. Secondary recaps that add 1:1 redemption or extra wallet names are not a substitute for those issuer terms.