Robinhood Expands to Europe with Blockchain Trading platform
Robinhood Markets Inc. is developing a blockchain platform for European investors to trade U.S. tokenized securities. This move aims to simplify and secure cross-border investments.
According to Bloomberg, Robinhood is considering partnerships with digital asset firms. Arbitrum (ARB) and Solana (SOL) are potential blockchain infrastructure options. However, no final agreements have been made, and both Robinhood and the blockchain entities have not commented.
Tokenized securities are digital versions of customary assets. They are becoming popular as they can cut trading costs and improve openness. A report by the Global Financial Markets Association suggests that blockchain technology could save up to $20 billion annually in global clearing and settlement costs.
Robinhood is not new to European markets. In april, it secured a brokerage license in Lithuania, opening doors to the EU investment market.it also plans to buy crypto exchange Bitstamp, which could expand its services to include crypto-linked derivatives.
Robinhood joins other major institutions like BlackRock, franklin Templeton, and Apollo in exploring tokenized assets. BlackRock’s tokenized fund, BUIDL, has already attracted over $2 billion as its 2023 launch, showing growing confidence in blockchain-based financial products.
