Robinhood develops a blockchain-based program to give traders in Europe access to US financial assets, two people who are familiar with the case, Bloomberg.

Three blockchains, including Arbitum (ARB), Ethereum (ETH) and Solana (SOL), are allegedly considered for the new platform that will be in partnership with a digital asset company, according to the report.

Tokenized assets have become a dominant area for traditional financial companies to push further into crypto. Several companies have launched tokenized funds in the past, with some analysts predicting the market growing to $ 23.4 trillion by 2033.

Tokenization refers to the process of creating a digital token for a traditional asset on blockchain that increases data security and enables faster transaction conduct and increased liquidity among other things.

In January, Robinhood CEO Vlad Tenev criticized the current US rules that have not yet provided a clear framework and rules for registration of security tokens-to block what could be a major financial shift that could open investments in private markets for everyday investors through tokenization.