Robinhood brokerage doubles its cryptographic ambitions. On Monday, the company announced that it left customers in the trade in the American Union actions and FNB on a blockchain. Nicknamed Robinhood Stock Tokens, assets – largely popular companies in a Wrapper Crypto – will have no commission costs, and holders will receive dividend payments in the application of brokerage.
Customers will have access to stock tokens representing more than 200 different companies and will be able to exchange them 24 hours a day, five days a week. Vlad Tenev, Chairman and Chief Executive Officer of Robinhood, said at an event on Monday that these tokens even understand private companies like Openai and Spacex. The actions based on the blockchain will initially be issued on arbitrum, a so-called layer 2 blockchain built above Ethereum.
Robinhood possibly plans to move tokens stocks to its own layer 2 chain which uses arbitrum software. Layer 2 chains are built at the top of primary blockchains like Ethereum, and are generally faster and more effective to use.
The user experience is designed to be as easy for non -crypto traders as possible, said Steven Goldfeder, co -founder and CEO of Offchain Labs, a key arbitrum developer. “For many European users who do not want to get involved with the crypto for any reason, they don’t even have to know or worry that it is crypto below,” he added.
Robinhood did not specify when he would launch his new blockchain, but he said that the new channel planned to support trading 24 hours a day, seven days a week. “Our latest offers set the basics of the crypto to become the backbone of the global financial system,” said Tenev in a statement.
The company’s action jumped 4% to a summit of $ 91 after Robinhood published the announcement on Monday morning.
Expansion of cryptography
Robinhood’s tokenized scholarships offer and the planned blockchain are part of a broader thrust of the company to extend its offer of cryptographic products under a new regulatory diet in Washington, DC
After President Donald Trump, who was called to “Pro-Crypto President”, won the re-election in November, Robinhood restored many cryptocurrencies, which Solara And XRP, which he had struck off from his platform. He withdrew the digital assets from his application after the Securities and Exchange Commission allegedly allegedly alleged the prosecution that tokens were unregistered titles.
Once Trump took office in January, his administration has published a series of pro-Crypto decrees. The SEC also reconfigured its arm of cryptocurrency and abandoned a series of high-level proceedings and surveys against cryptographic societies, including one probe In the crypto arm of Robinhood.
In May, Robinhood pierced in Canada when she acquired the Wonderfi based in Toronto for nearly $ 180 million. The acquisition should end in the second half of this year. And, in June, the listed company based in Menlo Park, California, closed its acquisition of $ 200 million in the Crypto Exchange Bitstamp after a year of regulatory examination.
As part of the announcement on Monday, Robinhood also said that he let his European users exchange the crypto perpetual term, a type of crypto derivative which allows traders to bet on the future price of a cryptocurrency.
And the online trading application said that it will allow customers to set up cryptocurrencies – when cryptography holders put their digital sequestration assets to support the security of a blockchain. Users will first be able to reach Ethereum and Solana. Robinhood did not say what other tokens he planned to allow users to play.
Update, June 30, 2025: Added in the way Robinhood’s actions responded to the advertisement, examples of tokenized stocks offered and a quote from Steven Goldfeder
