The CEO of Robinhood, Vlad Tenev, says that the buying and selling app big is planning to launch a extremely safe blockchain for real-world belongings (RWAs).
In a brand new interview on Bloomberg Tv, Tenev says that Robinhood is working diligently on launching its personal blockchain for RWAs, the tokenization of conventional belongings on distributed ledgers, or the issuance of conventional asset lessons within the type of digital tokens.
“We have now been engaged on our personal chain, the Robinhood chain, and we’ve been exhausting at work. We’d wish to have that powering the underlying infrastructure and all of the DeFi (decentralized finance) parts. We wish it to be the perfect chain optimized for real-world belongings, which I feel is a crucial area of interest that’s lacking available in the market.
And for that, it needs to be safe, principally, navy grade safety, it needs to be quick, low price. So we felt like that didn’t actually exist. And so, we’re excited to convey that to market.”
Tenev additionally says the corporate has already launched tokenized variations of US-listed shares and exchange-traded funds (ETFs) utilizing the layer-2 scaling answer Arbitrum (ARB) for its clients within the European Union.
In accordance with Robinhood, European clients now have entry to greater than 200 US inventory and ETF tokens.
“With tokenized shares, our European app transitions from being a crypto-only app to an all-in-one funding app powered by crypto.”
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