Robinhood and Kraken’s tokenized stocks will bring the TradFi world onchain… or fail miserably again like in 2021 depending on who you ask.
Ever since Robinhood co-founder Vlad Tenev bounded onto the stage in Cannes two weeks ago, channeling old-time movie star David Niven in his white suit and cravat, everybodys been talking about tokenized stocks.
It certainly seems like a big deal for mainstream adoption of crypto. Robinhood is a TradFi equities platform with 26 million retail customers tokenizing stocks on Arbitrum and offering them to EU users through its user-friendly app interface.
There are no crypto wallets or seed phrases required and Tenev suggests its a test run for a wider integration of crypto, a demonstration of what Robinhood itself could look like, built entirely on blockchain technology.
That same week, Gemini launched its own tokenized stocks on Arbitrum in the EU, and 60 of Backeds xStocks went live on Solana, supported by Kraken, Bybit, Bitrue and Gate.io.
Tokenized stocks may be just months away from launching in the US too, after dShares issuer Dinari was awarded a broker-dealer license and Ondo Finance acquired Oasis Pro to make use of its licenses.
