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Online stock brokerage Robinhood dove into the deep end of blockchain technology with what is perhaps the greatest real-world asset tokenization push to date at EthCC in Cannes on Monday.
Amid a keynote address packed with new feature launches, one defining development stood out from the bunch: the launch of tokenized securities and pre-IPO stocks through Robinhood Europe. These instruments will be initially issued on the Arbitrum L2, but similar to crypto-native exchanges like Coinbase, Robinhood intends on launching a proprietary L2. This chain will eventually serve as the home for Robinhood’s tokenized stock offerings.
HOOD shares surged over 20% on the week to establish new all-time highs north of $100, meanwhile, the attitude across the crypto industry was one of palpable excitement for the implications of Robinhood’s announcements.
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