Robinhood Markets intends to create a new blockchain-based platform that will allow clients from Europe to trade tokenized shares of American companies. This was reported by Bloomberg, citing its own sources.
The company is considering the possibility of collaborating with one of the cryptocurrency firms to implement the project. Arbitrum (ARB) and Solana (SOL) are mentioned among potential blockchain solutions, but final agreements have not yet been reached. Representatives of Robinhood and potential partners declined to officially comment.
The idea of tokenized assets - digital analogues of traditional financial instruments - is actively gaining popularity in the global financial industry. Such technologies can reduce the cost of trading infrastructure and increase the transparency of transactions. According to a report by the Global Financial Markets Association, the implementation of a distributed ledger can save up to $ 20 billion a year on global settlement and clearing costs.
Robinhood is already taking steps to expand its presence in Europe. In April, the company received a brokerage license in Lithuania, giving it access to all countries in the European Union. In addition, the company entered into an agreement to purchase the Bitstamp cryptocurrency exchange. The deal could allow Robinhood to offer cryptocurrency-related derivatives thanks to Bitstamp’s multi-party trading license.
Robinhood thus joins the ranks of financial giants such as BlackRock, Franklin Templeton, and Apollo, which are also exploring the possibilities of tokenized assets. For example, BlackRock’s blockchain fund BUIDL has already attracted more than $2 billion in investment since its launch in 2023. This demonstrates the growing confidence of institutional investors in blockchain-based financial products.
The move to tokenization could be an important step in the evolution of traditional markets, especially in the context of rapid developments in digital financial technologies and stricter requirements for transparency.