Robinhood digital brokerage (HOOD) It is extending its cryptographic footprint with a list of new offers, including the development of its own blockchain network based on the referee
And launching the trade of tokenized shares, the company announced on Monday.
The firm today has submitted its Token Actions offer, issued in the referee of Ethereum layer 2, for European users, giving access to more than 200 shares and ETF of the United States. UU. With the launch, Robinhood is expanding its EU application focused on cryptography with tokenized shares in an “Investment application all in one promoted by Crypto,” said the company in a statement shared in a statement shared with a statement shared with COINDESK.
The firm also confirmed that it is building its own Blockchain network of layer 2 optimized for tokenized assets. The next chain, based on the referee technology battery, aims to admit the 24/7 trade, AutoCustody and a bridge of the tokenized assets. A launch date has not been revealed, but people familiar with the matter said it could go live later this year, at the beginning of next year.
“Our latest offers feel the foundations for cryptography to become the backbone of the global financial system,” said Robinhood president and CEO, Vlad Tenev, in a statement.
Robinhood’s impulse in tokenized assets occurs when competition with digital assets is heating to offer a unified shopping center for all types of financial instruments. Asset token is a hot reading sector that aims to bring active actives, including actions, funds, real estate in blockchain, promising cheaper, faster and more efficient agreements and trade throughout the day. It is potentially a great opportunity: the tokenized asset market could grow to $ 18.9 billion by 2033, a projected Ripple and BCG report.
A series of popular cryptographic exchanges, including Bybit, Kraken and Gemini, have recently begun to offer tokenized actions to users, while Coinbase also seeks regulatory approval to do so.
Tenev de Robinhood earlier this year also promoted the tokenization of assets as a way of expanding the access of investors that the assets that are limited to the rich and advocated by clear regulations of the United States to tokenize values.
Although the rivals have been associated with specialists in regulated assets to offer stock tokens, Robinhood is building its own tokenization engine to do so, Seong Lee, head of cryptographic products, told Coindesk in an interview.
PERPAS IN THE EU, cryptography of us
As part of the promotion of the company’s crypt, Robinhood is implementing perpetual futures, a popular derivative instrument among cryptographic merchants, for European users. The trades are cracked through Bitstamp, one of the oldest active crypto exchanges in the world that Robinhood acquired for $ 200 million.
The firm has also introduced Crypto suitable for US investors
and Sol of Solana that allows tokens holders gains rewards without leaving the application.
In addition, Robinhood will add crypto rewards to your credit card offer later this fall, allowing US customers to invest automatically reimbursement in digital assets.
Read more: Robinhood launches Bitcoin, Solana and XRP futures contracts
