Crypto
Home›Crypto›Market Structure›Robinhood CEO urges rule changes for tokenized US stoc…
Robinhood CEO urges rule changes for tokenized US stock trading
Robinhood says its Stock Tokens total $32.2 million across 191 assets, after the SEC shelved a planned “innovation exemption” discussion again on Aug. 13.
Robinhood CEO Vlad Tenev urged US policymakers to update securities rules to enable tokenized stocks to trade in America, describing the lack of “US Stock Tokens” as a major gap in the company’s tokenization push, according to The Defiant.
Tenev’s call came five days after the SEC pulled a scheduled discussion of its “innovation exemption,” a move that follows the agency’s earlier shelving of the relief in May. The outlet noted the SEC’s decision happened after the White House warned the exemption could complicate Digital Asset Market Clarity Act negotiations, while SIFMA argued changes of that scale should move through formal rulemaking.
The post highlighted Robinhood’s existing footprint in tokenized equities, citing RWA.xyz data that Robinhood Stock Tokens are valued at $32.2 million across 191 assets, or 1.34% of the $2.4 billion tokenized equity market. It also pointed to larger issuers including Ondo at $882.9 million, Kraken’s xStocks at $561.7 million, and Binance’s bStocks at $532.2 million, and said Robinhood’s token supply doubled over the past 30 days, the fastest growth among the top six.
Tenev argued tokenized settlement could reduce pressures seen during the January 2021 GameStop episode by enabling real time settlement, with onchain systems designed for round the clock trading and faster portability than legacy ACAT transfers. The outlet also said Robinhood’s Stock Tokens are backed 1:1 by underlying shares and that Robinhood Chain, its Arbitrum based L2 launched July 1, reached 100 million transactions in roughly three weeks.