Robinhood CEO Vlad Tenev announced plans to distribute tokenized shares of leading tech firms like OpenAI and SpaceX, enhancing the company’s crypto and real-world asset offerings in Europe. During a Cannes event, Tenev showcased digital tokens for these companies, revealing that $1 million in OpenAI tokenized equity is set for distribution via the Robinhood app to European users. While it’s unclear if all new users will receive tokens, Tenev confirmed that trading functionality will follow initial wallet holdings. This initiative is part of Robinhood’s broader strategy, which includes offering over 200 U.S. stock and ETF tokens with zero commissions and 24/5 trading. Furthermore, Robinhood launched perpetual crypto futures and micro futures contracts for Bitcoin, Solana, and XRP, emphasizing its commitment to tokenization. As the RWA market expands beyond $24 billion, Robinhood’s entry with high-profile tokens positions it uniquely amidst competitors like Gemini, focusing on the efficient trading of equities via blockchain technology.
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