Overview
- Robinhood CEO Vlad Tenev publicly called on U.S. regulators on Wednesday to create clear rules for tokenized equities so America does not fall behind markets that are already rolling out blockchain-based stock trading.
- The company has launched Robinhood Chain, a Layer‑2 testnet that has processed more than 100 million transactions, and already offers thousands of blockchain-backed stock tokens to eligible customers in the EU and EEA.
- Robinhood’s tokenized shares are marketed as one-to-one backed by real stocks but do not give token holders direct legal ownership of the underlying shares, a distinction that lies at the center of regulatory debate.
- U.S. securities rules were written for centralized brokers, exchanges and clearinghouses, so regulators must resolve custody, settlement finality and cross-border compliance before tokenized stocks can be offered to American retail investors.
- Rapid on‑chain growth and falling crypto trading revenue have pushed firms toward tokenization, a shift that could enable near-instant settlement, 24/7 trading and easier cross-border access for retail investors while changing how clearing and collateral works.