Robinhood Revolutionizes Trading with Tokenized Equities
Robinhood has launched commission-free tokens enabling EU customers to trade over 200 U.S. stocks and ETFs. These tokens, issued with blockchain firm Arbitrum, signify a shift towards crypto-like trading in traditional finance. The initiative aims to broaden global access to U.S. stocks and anticipate future 24/7 trading.
Robinhood announced on Monday that it has launched tokens allowing its European Union clientele to trade more than 200 U.S. stocks and exchange-traded funds. Notably, major companies like Nvidia, Apple, and Microsoft are included in this offering. These commission-free tokens can be traded non-stop for five days a week.
Additionally, Robinhood revealed plans to introduce tokens related to privately-held firms, starting with OpenAI and SpaceX. The company shares surged nearly 10% following the news. The tokens will be distributed through a partnership with blockchain firm Arbitrum, aligning with the increasing global interest in the U.S. market with giants of the AI and tech sectors.
Emphasizing innovation, Robinhood's approach merges traditional finance with cryptocurrency, gaining traction amongst international investors for its accessibility, flexible trading hours, and lower costs. Despite the regulatory ambiguity in the U.S., tokenized equities are poised to transform the securities investment landscape.
(With inputs from agencies.)
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- Microsoft
- Arbitrum
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