Robinhood launches stock tokens in the EU, plans Layer 2 blockchain

The company said, “Today, at Robinhood (HOOD) Presents: To Catch a Token in Cannes, France, we unveiled a suite of new products that mark a major step forward for crypto. From expanding Robinhood to over 400 million people across 30 EU and EEA countries, to launching stock and ETF tokens, we’re building toward a future where investing is simpler, smarter, and more accessible worldwide…We’ve launched US stock and ETF tokens in the EU, giving eligible customers exposure to US equities with Robinhood Stock Tokens-featuring zero commissions or added spreads from Robinhood, dividend support, and 24/5 access. With tokenized stocks, our European app transitions from being a crypto-only app to an all-in-one investment app powered by crypto. European customers will have access to 200+ US stock and ETF tokens. Stock token holders will also receive dividend payments directly in their app…Stock tokens will initially be issued on Arbitrum. In the future, tokenized stocks will be facilitated by our very own Robinhood Layer 2 blockchain, based on Arbitrum. Currently in development, the Robinhood blockchain will be optimized for tokenized real-world assets and built to support 24/7 trading, seamless bridging, and self-custody…We are introducing crypto perpetual futures in the EU, where we will offer eligible customers access to a new class of derivatives with continuous exposure and up to 3x leverage. Perpetuals will be 100% rolled out to eligible customers by the end of the summer. Designed to help reduce the complexity typically associated with trading perpetuals, we built our interface with intuitive controls for setting position size and managing margin. Orders are routed through Bitstamp’s perpetual futures exchange…Crypto staking is launching to eligible US customers, starting with Ethereum and Solana. With our user-friendly interface, you can now participate in blockchain ecosystems and access competitive reward rates by contributing to network operations. Crypto staking is also available to all Robinhood customers in the EU and EEA.”