Does Robinhood have a centralized exchange?

In the realm of cryptocurrency and finance, the question of whether Robinhood operates a centralized exchange often arises. Given the popularity of Robinhood as a trading platform, it's understandable why many would seek clarification on its exchange infrastructure. Could you elaborate on whether Robinhood indeed maintains a centralized exchange, and if so, what are the key implications and distinctions compared to decentralized exchanges? Additionally, what factors should investors consider when evaluating the suitability of Robinhood's exchange model for their trading needs?