Digital Mediation Robinhood (HOOD) Enlargement
And the launch of tokenized shares traded the company on Monday.
The company has today debuted its stock taking, issued at Ethereum Layer-2 Arbumum, for European users who give access to over 200 US shares and ETFs Witt around the clock over weekdays. With the launch, Robinhood expands its crypto-focused EU app with tokenized shares for an “all-in-one investment app driven by Crypto,” the company said in a release shared with Coindesk.
The company also confirmed that it is building its own LAG-2 blockchain network optimized for tokenized assets. The upcoming chain, which is based on the Arbitum Tech stack, aims to support 24/7 trade, self-insurance and transverse chain brodity formation of tokenized assets. A release date has not been revealed, but people who are familiar with the case said it could go live later in the year, early next year.
“Our latest offering lays the basis for crypto to become the backbone of the global financial system,” Robinhood chairman and CEO Vlad Tenev said in a statement.
Robinhood’s push in tokenized assets comes as competition with digital asset exchanges warms up to offer a unified trade hub for all types of financial instruments. Asset-tokenization is a reading-hot sector aimed at bringing assets in the real world, including stocks, funds, real estate on blockchain rails that promise cheaper, faster and more efficient settlements and trade in the clock. It’s potentially a huge option: The tokenized asset market could grow to $ 18.9 trillion by 2033, projected a report from Ripple and BCG.
A number of popular crypto exchanges, including Bybit, Kraken and Gemini, have recently begun to offer tokenized warehouses to users, while Coinbase allegedly also seeking legislative approval to do so.
Earlier this year, Robinhood’s Tenev also proclaimed active docking as a way of expanding the investor access that is limited to the wealthy, and suggested for clear American rules to tokenize securities.
While rivals have joined forces with regulated asset tokenization specialists to offer the warehouses, Robinhood builds his own tokenization engine to do so, Seong Lee, head of Crypto Products, Coindesk, said in an interview.
PERPS IN EU, CRYPTO IN THE US
As part of the company’s Crypt -push, Robinhood rolls out eternal futures, a popular derived instrument among crypto traders, for European users. Handles are conducted through Bitstamp, one of the world’s longest -moving active crypto exchange that Robinhood acquired for $ 200 million.
The company has also introduced crypto stacks for US-based investors starting with Ethereums ether
And Solana’s sun, which lets the token holders earn rewards without leaving the application.
In addition, Robinhood will add crypto rewards to its credit card offerings later in the fall, allowing US customers to invest cashback automatically in digital assets.
Read more: Robinhood launches Micro Bitcoin, Solana and XRP Futures -Contracts
