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Robinhood engages in dialogue with European regulators over its stock tokenization plan.
According to a report by The Block on July 8, Robinhood Markets is in discussions with several European regulators about its recently launched stock tokenization plan. The company announced on June 30 that it would offer blockchain "stock tokens" for OpenAI and SpaceX to eligible European users, and plans to offer tokenized versions of more than 200 U.S. stocks later this year. Robinhood CEO Vlad Tenev responded that these tokens are essentially derivations aimed at providing market exposure for retail investors, rather than actual equity. Despite facing scrutiny, on-chain data shows that Robinhood has issued approximately 215 stock tokens on the Arbitrum Layer 2 network and continues to test related contracts.