Robinhood’s strategic adoption of technology and blockchain tokenization fueled a rally of almost 30% in its stock in the last month, highlighting the new engines of brokerage growth despite the regulatory control of some of its products.
Robinhood Stock, negotiating under the Ticker hood, jumped $ 94.65 in New York Trading on Wednesday, placing it less than 4% of its high set of all time on July 2.
The action has increased by more than 27% in the month and increased by 137% since the start of the year, increasing its market capitalization to more than $ 82 billion.
While Robinhood’s course of action was lifted by a range of factors – including an increase in income of 50% on the other in the first quarter to $ 927 million – its earnings accelerated at the end of June after the company unveiled a layer 2 blockchain focused on tokenization.
Built on Arbitrum, the new blockchain will allow Robinhood to offer American actions and products negotiated in exchange for investors in Europe.
In the United States, Robinhood also proposed to create the exchange of active active people from the real world, an onchain regulation platform for active world.
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The CEO of Robinhood is double on the tokenization
Robinhood’s tokenization thrust was well received by investors, but regulators in Europe have raised concerns concerning the so-called equity offers of the company, which would have exhibited private companies.
The Central Bank of Lithuania – The main regulator of Robinhood in Europe – asked for more information from the brokerage house on its offers of actions of action specifically linked to Openai and SpaceX.
The CEO of Robinhood, Vlad Tenev, said that these products are not technically shares but always give investors an exhibition to these companies. According to Galaxy Research, these investment capital tokens work more as “derivatives” which provide indirect exposure to non-public companies.
In an interview with Tuesday with Bloomberg News, Tenev said that many private companies had approached Robinhood to make their capital accessible to investors via the same type of investment chips used for SpaceX and Openai.
In relation: OPENAI says Robinhood’s tokens are not equity in the company
