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Digital brokerage Robinhood (HOOD) is extending its crypto footprint with a slate of caller offerings, including processing its ain blockchain web based connected Arbitrum ARB and launching tokenized stocks trading, the institution announced connected Monday.
The steadfast contiguous has debuted its banal token offering, issued connected the Ethereum layer-2 Arbitrum, for European users, giving entree to implicit 200 U.S. equities and ETFs witt around-the-clock trading during weekdays. With the launch, Robinhood is expanding its crypto-focused EU app with tokenized stocks into an "all-in-one concern app powered by crypto," the institution said successful a merchandise shared with CoinDesk.
The steadfast besides confirmed it's gathering its ain layer-2 blockchain web optimized for tokenized assets. The upcoming chain, based connected the Arbitrum tech stack, is aimed to enactment 24/7 trading, self-custody and cross-chain bridging of tokenized assets. A merchandise day has not been disclosed, but persons acquainted with the substance said it could spell unrecorded astir aboriginal this year, aboriginal adjacent year.
"Our latest offerings laic the groundwork for crypto to go the backbone of the planetary fiscal system," Robinhood Chairman and CEO Vlad Tenev, said successful a statement.
Robinhood's propulsion into tokenized assets comes arsenic contention with integer plus exchanges is heating up to connection a unified trading hub for each kinds of fiscal instruments. Asset tokenization is simply a read-hot assemblage that aims to bring real-world assets including equities, funds, existent property onto blockchain rails promising cheaper, faster and much businesslike settlements and around-the-clock trading. It's perchance a immense opportunity: the tokenized plus marketplace could turn to $18.9 trillion by 2033, a report by Ripple and BCG projected.
A slew of fashionable crypto exchanges, including Bybit, Kraken and Gemini person conscionable precocious started to connection tokenized stocks to users, portion Coinbase reportedly besides seeks regulatory support to bash so.
Robinhood's Tenev earlier this twelvemonth besides touted plus tokenization arsenic a mode to grow capitalist entree that assets that are constricted to the wealthy, and advocated for wide U.S. regulations to tokenize securities.
While rivals person teamed up with regulated plus tokenization specialists to connection banal tokens, Robinhood is gathering its ain tokenization motor to bash so, Seong Lee, caput of crypto products, told CoinDesk successful an interview.
Perps successful EU, crypto staking successful US
As portion of the firm's crypt push, Robinhood is rolling retired perpetual futures, a fashionable derivative instrumentality among crypto traders, for European users. Trades are routed done Bitstamp, 1 of the world's longest-running progressive crypto speech which Robinhood acquired for $200 million.
The steadfast has besides introduced crypto staking for U.S.-based investors starting with Ethereum's ether ETH and Solana's SOL SOL that lets token holders gain rewards without leaving the application.
Additionally, Robinhood volition adhd crypto rewards to its recognition paper offering aboriginal this fall, allowing U.S. customers to put cashback automatically successful integer assets.
Read more: Robinhood Launches Micro Bitcoin, Solana and XRP Futures Contracts
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