Robinhood to Offer Tokenized Shares of OpenAI, SpaceX
Robinhood's CEO Vlad Tenev announced plans to sell tokenized shares of private companies, such as OpenAI and SpaceX, to European users. At an event in Cannes, Tenev showcased 'stock tokens' for these companies and revealed the initiative to introduce tokenized U.S. equities in Europe, alongside perpetual trading and staking in the U.S. This move is part of Robinhood’s strategy to expand by offering over 200 tokenized versions of U.S. stocks to EU users. Tenev noted that users who download the Robinhood app would soon be able to own tokenized shares of OpenAI and SpaceX. Recently, Tenev successfully transferred $1 million worth of tokenized OpenAI shares to Robinhood Europe for future distribution. Although it's not clear if these token offerings are for all EU users, those who secure the tokens initially will hold them while Robinhood works on enabling digital asset trading.
FAQ
❓ What are tokenized shares?
Tokenized shares represent traditional stocks in a digital form, allowing fractional ownership and easy trading.
❓ How can EU users purchase these tokenized shares?
EU users can purchase tokenized shares through the Robinhood app, which allows accessing over 200 U.S. stock tokens.