Robinhood, the well-known trading entity focused on offering democratized access to crypto and stocks, has announced its collaboration with Arbitrum, an Ethereum-focused L2 scaling solution. The partnership takes into account the launch of tokenized U.S. ETFs and stocks for EU consumers. The platform revealed this groundbreaking development in a recent social media post.
Robinhood Announces Partnership with Arbitrum to Bring Tokenized U.S. ETFs and Stocks to EU Consumers
Robinhood and Arbitrum’s partnership includes the release of tokenized U.S. ETFs and stocks for users living in the EU jurisdiction. In this respect, the targeted consumers can leverage Arbitrum’s platform to reach the respective ETFs and stocks without any restrictions. In a significant advancement, the traders will be carried out via blockchain rails.
The development is a crucial move for the crypto community as it shifts conventional financial tools to the decentralized technology. Robinhod endeavors to move further by releasing a devoted L2 blockchain by leveraging the Orbit stack of Arbitrum. This will enable comprehensive DeFi integrations along with exclusive financial primitives. While discussing this development, Vlad Tenev (Robinhood’s CEO) said that this clarifies that cryptocurrency is not only a tradable asset. Rather, it has become a basic infrastructure layer.
Onboarding Numerous Users by Providing Seamless Finance
Steven Goldfeder, the Co-Founder of Arbitrum, also stressed the importance of this partnership. He stressed that the partnership underscores crypto’s key objective, rebuilding the financial mechanism to be more efficient, accessible, and open. However, the experience for the EU-based users of Robinhood will remain unchanged. Overall, by onboarding numerous new consumers with this collaboration, both the entities are bringing finance for everybody by making crypto a core foundation.
