The CEO of Robinhood, Vlad Tenev, says that the trading app giant is planning to launch a highly secure blockchain for real-world assets (RWAs).
In a new interview on Bloomberg Television, Tenev says that Robinhood is working diligently on launching its own blockchain for RWAs, the tokenization of traditional assets on distributed ledgers, or the issuance of traditional asset classes in the form of digital tokens.
[adinserter block="1"]“We have been working on our own chain, the Robinhood chain, and we’ve been hard at work. We’d like to have that powering the underlying infrastructure and all the DeFi (decentralized finance) elements. We want it to be the best chain optimized for real-world assets, which I think is an important niche that’s missing in the market.
And for that, it has to be secure, basically, military grade security, it has to be fast, low cost. So we felt like that didn’t really exist. And so, we’re excited to bring that to market.”
Tenev also says the company has already launched tokenized versions of US-listed stocks and exchange-traded funds (ETFs) using the layer-2 scaling solution Arbitrum (ARB) for its customers in the European Union.
According to Robinhood, European customers now have access to more than 200 US stock and ETF tokens.
“With tokenized stocks, our European app transitions from being a crypto-only app to an all-in-one investment app powered by crypto.”
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Warm_Tail
