Robinhood Chief Executive Vlad Tenev said the company plans to widen access to tokenized stocks, private company shares and other real-world assets through Robinhood Chain, a new blockchain platform designed to make U.S. equities and alternative assets available across more than 120 countries.
Tenev said Robinhood’s stock tokens will be backed one-to-one by underlying securities and will initially cover about 2,000 U.S.-listed equities. The tokens are intended to allow continuous trading beyond normal market hours, giving users access to stock-linked assets around the clock through digital wallets and Robinhood’s infrastructure.
The strategy marks one of Robinhood’s most ambitious moves beyond its original zero-commission brokerage model. It also places the company at the center of a fast-growing financial technology push to move traditional assets such as stocks, private equity and funds onto blockchain networks.
Tenev said the company wants to do for equities what stablecoins did for the U.S. dollar: make a major financial asset easier to move, hold and access globally. He said all tokenized shares offered through the system will be fully backed by securities held in reserve, with each token representing exposure to a corresponding underlying asset.
The plan comes as tokenized real-world assets are gaining momentum across global markets. As of July 13, 2026, recent market data shows the digital real-world asset sector has reached about $60 billion in total global value. Separately, the tokenized asset sector recorded slightly more than $32 billion in distributed on-chain value by the end of June 2026.
Robinhood Chain becomes the core of the expansion
Tenev described Robinhood Chain as an Ethereum-based Layer 2 network built using Arbitrum technology. Layer 2 systems are designed to process transactions more efficiently than the main Ethereum blockchain, often reducing transaction costs and increasing speed while still relying on Ethereum for security settlement.
The company sees the network as infrastructure for real-world assets, including tokenized stocks and private company exposure. Users will be able to hold and transfer stock-backed tokens through custodial wallets provided by Robinhood or through independent wallets, according to Tenev.
The company’s pitch is based on broader access, lower friction and cross-border availability. Instead of limiting U.S. stock participation to traditional brokerage accounts with country-specific restrictions, Robinhood plans to use digital tokens to reach users in markets where financial infrastructure is less developed or where access to U.S. equities remains limited.
Tenev said Robinhood’s long-term goal is to make equity ownership as simple and portable as holding digital dollars. Stablecoins have already shown that blockchain-based financial instruments can move across borders quickly and outside traditional banking hours. Robinhood now wants to apply a similar model to stock-linked assets, while maintaining reserves of underlying securities.
That claim will place attention on custody, compliance and disclosure. Tokenized stocks can only function as trusted financial products if buyers can verify that the tokens are backed by real securities and that the issuer can meet redemption or transfer obligations. Tenev said Robinhood’s model will rely on one-to-one backing, a standard intended to reduce the risk of tokens trading without sufficient underlying assets.
A broader push beyond public markets
Robinhood also plans to expand access to private companies through Robinhood Ventures, which Tenev said uses a closed-end fund structure. The funds are designed to provide exposure to private firms before they go public, including companies such as SpaceX, OpenAI and Revolut.
Private markets have become increasingly important as major technology companies remain private for longer periods and reach very large valuations before listing shares on public exchanges. Tenev said this shift has limited the ability of ordinary market participants to share in early corporate growth, leaving much of the upside to large funds, venture capital firms and wealthy holders.
He argued that expanding access to private markets is the next phase of Robinhood’s mission. The company rose to prominence by offering zero-commission stock trading through a mobile app, helping reshape the retail brokerage industry. Tenev now wants to apply a similar approach to private company access, though the regulatory and liquidity challenges are different from listed stock trading.
The closed-end fund model allows Robinhood Ventures to hold baskets of private company shares without requiring the underlying firms to list publicly. Tenev said the structure respects issuers’ governance rules, which can include transfer restrictions, shareholder limits and approval rights.
For traders, private market exposure may carry different risks than public stocks. Private company shares are usually less liquid, less transparent and harder to price. Fund structures may also have lockups, limited redemption windows or valuation methods that differ from public market pricing. Robinhood’s expansion into this area is likely to draw scrutiny from regulators focused on suitability, disclosures and the marketing of complex products to a broad user base.
From pandemic boom to market recovery
Tenev said Robinhood’s current expansion follows a turbulent period for the company and the broader market. He linked the pandemic-era rally to aggressive fiscal stimulus, extremely low interest rates and a surge in retail trading activity. That environment reversed in 2022 as inflation accelerated and central banks raised interest rates.
U.S. inflation reached roughly 9% to 10% in 2022, prompting sharp monetary tightening. Higher interest rates reduced valuations for growth companies and speculative assets, and Robinhood’s own share price fell significantly. Tenev said the company’s stock declined by about 80% at one point, reducing its market capitalization to around $6 billion.
The company has since recovered strongly. Tenev said Robinhood’s total assets under custody have risen to about $380 billion, while its valuation has rebounded to roughly $90 billion. That recovery reflects both improved market conditions and the company’s efforts to broaden its product base beyond commission-free stock trading.
Robinhood’s public listing in 2021 valued the company at about $32 billion. Its market value later fell steeply during the 2022 correction, as trading volumes declined and risk appetite weakened. The rebound has coincided with renewed interest in equities, cryptocurrency-linked services, retirement products, cash management and now tokenized assets.
Retail behavior shifts toward profitable companies
Tenev said retail traders have become more focused on companies with real earnings, strong revenue growth and clear competitive positions. He cited Nvidia, Tesla and other large technology producers as examples of businesses attracting attention because of their profits, margins and long-term growth narratives.
That marks a shift from the height of the “meme stock” period, when trading activity was often driven by online communities, short squeezes and nostalgia for well-known consumer brands. Tenev said the newer pattern is more connected to company fundamentals, especially among individuals who follow product cycles, revenue trends and margin performance.
He contrasted this with the behavior of institutions, saying large professional funds often adjust exposure because of external forces such as tariffs, macroeconomic policy or portfolio constraints. Individuals, he said, may respond more directly to business performance and product momentum.
The distinction is important for Robinhood’s strategy because the company continues to position itself as a platform for retail traders. If users are increasingly focused on profitable companies rather than short-term social media trends, tokenized access to major U.S. equities could become a natural extension of existing trading behavior.
Equity ownership remains a central goal
Tenev said expanding equity ownership remains central to Robinhood’s mission. He cited data showing that about 65% of Americans currently hold equities, up from roughly 20% before the expansion of 401(k) retirement accounts. He said Robinhood’s launch in 2013 helped push participation from around 50% to above 60%.
The company wants to raise that figure closer to 90%, according to Tenev. One idea he discussed involves programs that would establish brokerage accounts for newborn citizens, allowing families to begin building diversified public market exposure early in life.
Such proposals reflect a broader debate over wealth creation and market participation. Stock ownership in the United States remains uneven, with higher-income households holding a larger share of financial assets. Robinhood’s view is that easier access, lower fees and simpler digital tools can help narrow that gap, though access alone does not eliminate market risk or differences in income and savings capacity.
By combining traditional brokerage services, tokenized assets and private market products, Robinhood is attempting to build a platform that follows users across multiple stages of financial participation. The company’s challenge will be to make those tools understandable while ensuring that complex products do not expose inexperienced traders to risks they do not fully recognize.
Automation will support, not replace, human decisions
Tenev also addressed the role of artificial intelligence in markets, saying AI will improve trading support but will not replace human judgment. He noted that algorithmic strategies have existed in finance for decades, from high-frequency trading systems to automated portfolio models.
The difference now is that AI tools may become more accessible to individuals, helping users interpret data, compare assets, monitor risks and manage orders. Tenev said human decision-making will remain essential because markets are shaped by judgment, uncertainty and changing expectations.
Automation could still affect trading conditions, especially in tokenized markets that operate continuously. Round-the-clock trading may create periods of thin liquidity, particularly outside U.S. market hours. During low-volume periods, automated systems can amplify short-term price moves if many orders react to similar signals at the same time.
For Robinhood and other platforms offering tokenized assets, market structure will be a key issue. Traditional stock exchanges have opening and closing auctions, circuit breakers and defined trading sessions. Blockchain-based assets can move at any hour, across borders and through multiple wallet types. That flexibility may improve access, but it also creates new demands for pricing, disclosures and risk controls.
Global access brings new questions
Robinhood’s plan to offer tokenized equities across more than 120 countries could significantly expand access to U.S. assets, particularly in regions where brokerage access is limited or expensive. For many international users, tokenized shares may appear similar to stablecoins: borderless, digital and available outside traditional banking channels.
But the comparison has limits. Stablecoins generally represent claims on cash or cash-equivalent assets, while stock tokens represent exposure to securities whose prices can be volatile and whose ownership rights may vary depending on the structure. Users may not automatically receive the same voting rights, dividends or legal protections as direct shareholders unless the product terms provide them.
Regulatory treatment will also vary by country. Tokenized stocks may be considered securities, derivatives or other regulated financial instruments depending on local law. Robinhood’s ability to offer these products widely will depend on licensing, disclosures, custody standards and cooperation with regulators in multiple jurisdictions.
The company’s move comes at a time when traditional finance and blockchain infrastructure are converging. Banks, asset managers and fintech firms are experimenting with tokenized treasury funds, money market products, private credit and equities. The appeal is clear: faster settlement, broader distribution and programmable ownership. The unresolved questions involve legal enforceability, market supervision and how token holders are protected when intermediaries fail.
Tenev’s message is that tokenization can remove old barriers between public markets, private markets and digital wallets. Robinhood is betting that traders want the ability to hold stock-linked assets with the same flexibility they now associate with digital currencies. Whether that model becomes mainstream will depend on execution, regulation, liquidity and trust in the reserves behind each token.
Interested in stock-backed tokens? Learn how they work in our guide on tokenized equities and future market access.
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