The revenues of the crypto of the Robinhood negotiation platform increased 98% in annual sliding to 160 million dollars in the second quarter, CEO Vlad Tenev doubled on the plans aimed at directing the tokenization market for real assets in the United States and abroad.
Total net turnover increased by 45% in annual sliding to $ 989 million, while net profit increased by 105% to $ 386 million, Robinhood said in its profit statement on Wednesday.
Although it beats Wall Street expectations, the company’s actions have traced slightly in the trade after the opening hours.
Crypto volumes also increased by 32% during the quarter to 28 billion dollars, the market capitalization of cryptography increased by 21.7% to 3.36 billions of dollars.
Robinhood wants tokenize alternative active ingredients that are difficult to reach
“We believe that tokenization is the greatest innovation that our industry has known in the last decade,” said CEO after Robinhood at the end of last month, a blockchain in layer 2 focused on tokenization – Robinhoood Chain – for stock trading in Europe.
Tenev said Robinhood’s main objective on the American market would be to tokensinate the alternative assets “previously inaccessible”.
“Private markets and related real assets are opportunities that have not been so far” and “we are working with regulators to make this possible”.
Tenev referred to everything, private shares and venture capital funds to real estate that have generally been prohibited from retail investors due to regulatory and liquidity barriers.
It occurs almost two months after the acquisition of Robinhood at $ 200 million in Crypto Exchange Bitstamp, which should play a central role in the company’s tokenization strategy.
Robinhood’s tokenization offers have raised legal concerns
Tenev said he had seen a strong interest on the part of the developers who wanted tokenize the assets of the company on Robinhood since the unveiling of the Tokenization strategy in Cannes, in France, at the end of last month:
“Since our event, we have just received a lot, many calls from developers who want to either Tokenize the actions of their own businesses or otherwise jump on the tokenization of the Revolution of real assets and associate with us.”
Robinhood has already issued investment capital tokens in Europe that resemble Openai and SpaceX actions.
However, tokenization offers recently sparked a legal investigation in Lithuania, while Openai warned that the Robinhood Openai token does not resemble real equity in the company.
Robinhood more equipped for tokenization, supports the CEO
When asked how Robinhood’s tokenization platform would exceed public blockchains, Tenev stressed the 25 million American users of the company and the dollars’ 1 billion assets they already hold under the care.
“”[That] Will be very, very difficult to reproduce for others, “said Tenev, noting that none of the competitors of Robinhood or native blockchain companies” really go after this specific opportunity “.
“There are a lot of channels that want to build the best channel for Degen Traders, but I think that the opportunity for real assets and the unique characteristics they have […] I don’t think someone else attacks so directly.
In relation: Etoro for tokenize 100 most popular American actions on Ethereum
While Tenev’s comments were directed to layer 2, Ethereum continues to dominate the cryptographic tokenization market, obtaining nearly $ 7 billion in real assets, according to Rwa.xyz data.
The ZKSYNC era of layer 2 of layer 2 arrives in second position with $ 2.4 billion, representing a market share of almost 19%.
Review: Will Robinhood’s tokenized stocks really take control of the world? For the advantages and disadvantages
