NASDAQ Stock Market
These Recent Moves Are Brilliant. Here's Why Robinhood Is the Most Important Player in Crypto Right Now.
xCruzo Brief
Robinhood Markets (NASDAQ: HOOD) has launched the Robinhood Chain, positioned by the article as a new force in tokenized stocks and decentralized trading. Citing a Binance Research report, it says BNB Chain plus Robinhood Chain handled about 88.2% of tokenized stock trading on decentralized exchanges in early September, up from 2.3% in June. The piece argues Robinhood could take market share from BNB Chain, leveraging its user base of more than 28 million tied to its popular stock app. Robinhood Chain, launched July 1, is a layer 2 network using Arbitrum tech with transactions settling on Ethereum; it had $146 million in tradeable tokenized stocks as of Sept. 18. It also claims BNB Chain had $1 billion parked in tokenized stocks.
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