Robinhood has substantial end-to-end control over its centralized-finance trading system, including the databases, strategy-running code, and sandboxes.

“So we're seeing a lot of agentic trading there. On our, um, CeFi centralized offerings, um, you know, w-we, we, we have a lot of end-to-end control over- The entire system, right?”

“We have our databases, we have our code that the strategies are running on, the sandboxes. We build a lot of those tools. We have to optimize all of that.”