Robinhood Markets Inc. is constructing a blockchain-based platform to permit European buyers to commerce tokenized U.S. securities, in keeping with Bloomberg.
The initiative will possible contain a partnership with a digital-asset agency, with Arbitrum (ARB) and Solana (SOL) being thought-about as blockchain infrastructure choices, in keeping with Bloomberg reporting.
Discussions are ongoing and no settlement has been finalized. Robinhood and the blockchain entities declined to remark.
Tokenized securities — digital representations of conventional monetary belongings—are gaining traction as world monetary companies discover methods to cut back buying and selling infrastructure prices and enhance transparency.
A report from the International Monetary Markets Affiliation estimates distributed ledger know-how might save as much as $20 billion yearly in world clearing and settlement prices.
Robinhood’s enlargement into Europe
Robinhood has already begun laying the groundwork for broader monetary companies in Europe. In April, the corporate secured a brokerage license in Lithuania, granting it entry to the EU funding market.
It additionally agreed to accumulate crypto alternate Bitstamp, a deal that would broaden its choices to incorporate crypto-linked derivatives by way of Bitstamp’s multilateral buying and selling facility license.
Robinhood joins main establishments comparable to BlackRock, Franklin Templeton, and Apollo in exploring tokenized belongings.
BlackRock’s tokenized fund BUIDL has already attracted over $2 billion since launching in 2023, signaling rising institutional confidence in blockchain-based monetary merchandise.
