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Lighter makes Robinhood Stock Tokens eligible margin on its perp exchange

The update broadens collateral beyond USDG and uses live Chainlink price feeds, but it is limited to eligible non-US users.

Reported · Written up by our desk · Market Structure

Decentralized perpetuals exchange Lighter has added Robinhood Stock Tokens as eligible trading collateral on its Robinhood Chain platform, allowing users to post tokenized equities such as NVDA, GOOG and AAPL as margin for perpetual futures.

The change expands Lighter's accepted collateral beyond USDG, the USDG stablecoin that previously served as both collateral and the quote asset since Robinhood Chain's mainnet launch on July 1. Lighter also said the step follows its earlier plan to add more collateral assets in the third quarter, including tokenized gold, bitcoin and stocks.

Robinhood Stock Tokens are ERC-20 tokenized debt securities issued by Robinhood Assets (Jersey) Limited that provide economic exposure to underlying US shares and ETFs without granting legal or beneficial rights in those securities, according to Robinhood Chain documentation. Each token includes a live Chainlink price feed for on-chain pricing and use in trading and lending.

Lighter, a zero-knowledge rollup exchange founded in 2022 by Vladimir Novakovski, launched on mainnet in October 2025. Robinhood Stock Tokens are not registered under US securities laws and, per the documentation, may not be offered, sold or delivered to US persons, which limits the new collateral option to eligible non-US users, leaving Robinhood's roughly 24 million US-funded accounts outside the product for now.

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