Robinhood has expanded its tokenization initiative on the Arbitrum blockchain, deploying 80 new inventory tokens previously few days and bringing the entire variety of tokenized belongings shut to 500.
In accordance to data from Dune Analytics, Robinhood has tokenized 493 belongings with a complete worth exceeding $8.5 million. Cumulative mint quantity has surpassed $19.3 million, offset by round $11.5 million in burning exercise, signaling a rising however actively traded market.
Shares account for almost 70% of all deployed tokens, adopted by exchange-traded funds (ETFs) at about 24%, with smaller allocations to commodities, crypto ETFs and US Treasurys.
The newest batch of tokenized belongings contains Galaxy (GLXY), Webull (BULL), and Synopsys (SNPS), analysis analyst Tom Wan said. “Robinhood EU customers now have a wider vary of US Shares, Equities, and ETFs, thanks to Tokenization,” he famous.
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Blockchain-based derivatives, not actual shares
In June, Robinhood launched a tokenization-focused layer-2 blockchain constructed on Arbitrum, permitting EU customers to commerce tokenized US shares and ETFs as a part of its real-world asset (RWA) growth.
The corporate’s inventory tokens mirror the costs of publicly traded US securities however don’t characterize direct possession of the underlying shares. As an alternative, they’re structured as blockchain-based derivatives regulated beneath MiFID II (Markets in Monetary Devices Directive II), in accordance to the corporate.
The corporate additionally claims the inventory tokens provide 24-hour market entry, no hidden charges past a 0.1% FX cost and the flexibility to begin investing with simply 1 euro ($1.17).
Nevertheless, the rollout has drawn scrutiny. In July, the Financial institution of Lithuania, which regulates Robinhood within the EU, requested clarification on how the tokens are structured. Tenev mentioned the agency welcomes the overview.
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Robinhood deepens its crypto growth
Robinhood’s tokenization rollout got here shortly after the brokerage agency launched micro futures contracts for Bitcoin (BTC), XRP (XRP) and Solana (SOL).
Earlier in Might, the agency acquired Canadian crypto platform WonderFi in a $179 million deal, additional increasing its world footprint. Robinhood has additionally been pushing for clearer tokenization laws within the US, submitting a proposal to the Securities and Alternate Fee for a unified nationwide framework governing RWAs.
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