Robinhood gears up share redemptions, voting rights for stock tokens, after criticism
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Robinhood HOOD $ 114.33 · Market Closed ) said it is working to add share redemptions and voting rights to its stock token offering, addressing two sticking points in a growing debate over the brokerage's push to put U.S. equities on blockchain rails.
Key facts
- Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume
- Robinhood HOOD $ 114.33
- Market Closed ) said it is working to add share redemptions and voting rights to its stock token offering, addressing two sticking points in a growing debate
- In-kind redemption and voting are coming for Robinhood Stock Tokens," CEO Vlad Tenev posted on X on Monday
- Carlos Domingo, CEO of tokenization specialist Securitize (SECZ) and a proponent of issuer-sponsored tokenization, criticized Robinhood’s structure
Summary
Robinhood plans to add one-for-one share redemptions and voting rights to its stock tokens, CEO Vlad Tenev and crypto head Johann Kerbrat said. The move comes after recent scrutiny over what Robinhood stock token holders own after a recent spat with AMC CEO Adam Aron. Coinbase CEO Brian Armstrong also said that voting rights are coming to its tokenized stocks, as they already support one-for-one redemption and dividends. "In-kind redemption and voting are coming for Robinhood Stock Tokens," CEO Vlad Tenev posted on X on Monday.