Robinhood is eager to bring its stakes to interest after the company launched its stock token platform in the EU last week.
On Tuesday interview CEO Vlad Tenev said in Bloomberg News that the company received hopes to pass Blockchain-based tokens on the platform.
“I’ve been asking for a lot of inquiries since our announcement and actually want to get private companies in the retail industry to have their stocks to have tokens and be part of this revolution,” he said.
The platform is currently only available in the EU and offers over 200 marked U.S. stocks five days a week. It also includes promotional gifts representing non-tradeable tokens for private companies like OpenAI and SpaceX.
Teneff said Robinshid’s long-term goal is to bring thousands of private companies to the platform. “We think (this) is a huge opportunity to address one of the biggest inequalities in the capital market, and that’s the fact that you own these large companies and will last for a longer time,” he said.
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Robinhood’s token platform faces censorship
However, Performed a review. The Bank of Lithuania has adjusted in the EU, asking for clarification of the token structure. Teneff said the company welcomes review.
“They want to make sure everything is right because it’s a new innovative product. We have confidence. We think these products are not only important, but can withstand the highest form of scrutiny,” he said.
Tokens are technically classified as derivatives of the EU Crypto Asset Management Market (MICA) and the market for Financial Instruments Directive (MIFID) regulations. They are backed by basic assets held by U.S. brokers, and the tokens are minted or burned when users buy and sell.
Tenev confirmed the company is in discussions with regulators in the U.S. and U.K., but the platform is not available in these markets yet. He said the Securities and Exchange Commission (SEC) could mark the green light without the need for new legislation.
“The United States shouldn’t be behind. The opportunity is too great to ignore. Not only retail, but institutional. I think they’re keen. They have tokenized roundtables in the SEC and we’re already involved.”
Galaxy Digital reportedly said Robinhood’s tokenized mobile removed assets from traditional market channels and brought them to OnChain, directly Challenge concentrated liquidity and activities that make the main Tradfi exchanges like the New York Stock Exchange (NYSE).
Cointelegraph extended his comments but received no response through publication.
Related: Tagged equity in grey areas still regulated – Lawyer
The tokenized market is still hot
Robinhood’s tokenization move comes as the drivers that drive assets to gain attractiveness.
Biotech launched on Nasdaq on Tuesday Safety An undisclosed institutional investor has funded up to $1.1 billion to support its plan to market the commodity. The deal includes $100 million in senior mortgage convertible bonds and $1 billion in equity credit.
In other news, the joint program of DMZ Finance and QNB is already available Received Approved by the Dubai Financial Services Agency (DFSA), it became the first tokenized money market fund established by the Dubai International Financial Centre (DIFC).
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