Digital Broker (hood) It is expanding its cryptocurrency footprint with a range of new products, including developing its own blockchain network based on intimum
The company announced on Monday and launched a tokenized stock trading.
Today, the company has issued a stock token product on Ethereum Tier 2 arbitration, suitable for European users, and has access to more than 200 U.S. stock and ETFS retailers during business days. With the launch, Robinhood expanded its tokenized stocks into an “all-in-one investment app” with tokenized stocks, the company said in a press release shared with Coindesk.
The company also confirmed that it is building its own 2-layer blockchain network to optimize tokenized assets. The upcoming Soybean technology stack-based chain is intended to support 24/7 transactions, self-custody and cross-chain bridges. The release date has not been disclosed, but people familiar with the matter said they may live later this year early next year.
“Our latest products lay the foundation for cryptocurrencies to become the backbone of the global financial system,” Vlad Tenev, chairman and CEO of Robinhood, said in a statement.
As competition with digital asset exchanges is heating up, providing a unified trading center for various financial instruments, Robinhood’s push toward assets is driven by competition with digital asset exchanges. Asset Tokenization is a popular industry that aims to bring real-world assets including stocks, funds, real estate to the blockchain tracks, promising to cheaper, faster, more efficient settlements, and transactions around the clock. This could be a huge opportunity: the tokenized asset market could grow to $18.9 trillion by 2033 Report Predicted by Ripple and BCG.
A range of popular crypto exchanges, including bybit,,,,, Cleken and Gemini Token stocks have only been provided to users recently Common cases It is reported that regulatory approval is also sought.
Robinhood’s Tenev also earlier this year Praise Asset tokenization is a way to expand investors’ access to the asset, which is limited to the wealthy and advocates clear U.S. regulations to tokenize securities.
While competitors have partnered with regulated asset token experts to provide stock tokens, Robinhood is building its own tokenization engine, Seong Lee, head of crypto products, told Coindesk in an interview.
EU PERPS, cryptocurrency
As part of the company’s crypt push, Robinhood is launching a permanent future for European users, a popular derivative instrument among cryptocurrency traders. Trading is conducted through Bitstamp, one of the longest active crypto exchanges in the world. get $200 million.
The company has also launched cryptocurrencies for U.S. investors, starting with Ethereum’s Ether
Solana’s SOL allows token holders to receive rewards without leaving the application.
Additionally, Robinhood will add cryptocurrency incentives to credit cards offered later this fall, allowing U.S. customers to automatically invest in digital assets.
Read more: Robinhood launches microbitcoin, Solana and XRP futures contracts
