The online broker -Robinhood doubles its crypto ambitions. On Monday, the company announced that customers in the US stocks and ETFs exchanged it on a blockchain. With the name “Robinhood Stock token”, the assets – the shares of the popular companies in a crypto wrapper – have no commission fees, and owners receive dividend payments in the broker’s app.
Customers have access to shares that reserve more than 200 different companies and exchange them 24 hours a day, five days a week. The blockchain-based shares are initially issued to Arbitrum, a so-called layer-2 Ethereum.
Robinhood plans to finally move the tokenized shares into their own layer -2 chain, which she described in his press release as “based on arbitrum”. Layer -2 chains are built on primary blockchains such as Ethereum and are usually faster and more efficient to use.
Robinhood did not indicate when it would start his new blockchain, but the new chain is planning to support the trade 24 hours a day, seven days a week. “Our latest offers form the basis for crypto to become the backbone of the global financial system,” said Robinhood chairman and CEO Vlad Tenev in an explanation.
Crypto expansion
Robinhoods tokenitized share offer and planned blockchain are part of a broader advance
After President Donald Trump, who described himself as “Pro crypto president”, won the re-election in November, Robinhood reset many of the cryptocurrencies, including Solana And XRP that it had been lived out by its platform. The app was rejected by its app after the Securities and Exchange Commission prescribed legal disputes that the tokens had not registered securities in 2023.
As soon as Trump took over an office in January, his administration granted a number of pro-crypto Executive contracts. The SEC also configured its crypto enforcement arm and left a number of top-class lawsuits and investigations against crypto companies, including one probe In Robinhoods crypto arm.
Robinhood in Canada did in May when he acquired the Wonderfi based in Toronto for almost $ 180 million. The acquisition is expected to be closed in the second half of this year. And in June the publicly traded company based in Menlo Park, California Bitsamp After a year of regulatory review.
As part of Monday’s announcement, Robinhood also said that European users Krypto -Perpetual -Futures, a kind of crypto derivative, can bet with which dealers would bet on the future price of a cryptocurrency.
And the online trade app explains that we can grant customers cryptocurrencies -if crypto owners are in trust in trust in trust to support the safety of a blockchain. Users can first set Ethereum and Solana. Robinhood did not say which other tokens had planned to comply with the users.
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