Robinhood’s strategic embrace of blockchain technology and tokenization has run a nearly 30% rally in its stock last month, emphasizing new broker growth drivers despite reviewing regulation of some of its products.
Robinhood’s stock, which traded under the ticker hood, moved forward Wednesday to $ 94.65 in the New York trade, putting it in 4% of all time closing high sets on July 2.
The stock climbed more than 27% in the last month and climbed 137% year-to-date, lift market capitalization of more than $ 82 billion.
While Robinhood’s sharing price was lifted by a set of Tokenization dedicated to layer-2 blockchain.
Built in Arbitrum, the new blockchain will allow Robinhood to offer US tokenize stocks and exchange-exchanged products to European investors.
In the United States, Robinhood also suggested the creation of Real exchange of world assetsa platform for the onchain settlement of real-world assets.
Related: VC Roundup: Defi, AI, Hybrid Exchange Showcase Resilient Month for Crypto
Robinhood CEO doubles to tokenization
Robinhood’s tokenization is received by investors, but European regulators have raised concerns about the company’s so -called tokenized equity offering, which has been reported to provide exposure to privately held companies.
The Central Bank of Lithuania – Robinhood’s main regulator in Europe – have requested further information From the broker about stock offerings that are specifically tied to Openai and Spacex.
Robinhood CEO Vlad Tenev has made it clear that these products are not technical equity offerings but still provide investors to these companies. According to Galaxy researchSuch private equity tokens work as “derivatives” that provide indirect exposure to non-public companies.
In an interview on Tuesday at Bloomberg newsTenev said many private companies approached Robinhood about making their equity to be accessible to investors through the same type of private equity tokens used for Spacex and Openai.
Related: Openai said Robinhood tokens do not equity to the company
