Robinhood offers tokenised OpenAI and SpaceX shares to EU users

Robinhood CEO Vlad Tenev announced the company’s plan to distribute tokenised shares of private companies OpenAI and SpaceX to European Union users as part of its expansion into tokenised assets.

At an event in Cannes, France, Tenev displayed what he called “stock tokens” representing OpenAI and SpaceX shares and revealed that Robinhood would launch tokenised U.S. equities for EU customers, offering access to over 200 tokenised versions of publicly traded U.S. stocks.

Tenev transferred $1 million worth of tokenised OpenAI shares to Robinhood Europe, which will be distributed to users who download the Robinhood app and claim the tokens after a week.

He confirmed on social media that the OpenAI token transaction succeeded.

While it remains unclear whether all EU users or only event attendees are eligible, Tenev said those who claim the tokens must initially hold them, with plans to enable trading of these digital assets in the future.

Robinhood has not yet clarified the full details of eligibility and distribution.

This initiative is part of Robinhood’s broader strategy to grow its user base by offering tokenised U.S. stocks and ETFs on the Arbitrum (CRYPTO:ARB) blockchain layer-2 network, enabling commission-free, 24/5 trading.

The company also plans to launch perpetual futures with leverage for eligible EU traders, routed through its recently acquired crypto exchange Bitstamp.

Robinhood aims to develop its own proprietary layer-2 blockchain to support tokenised assets, bridging, and self-custody, expanding beyond its original crypto-focused platform to an all-in-one investment app.

“That’s our objective for customers in the EU. Currently, they can already experience this with crypto assets. These stock tokens, utilising crypto technology, will operate on the same foundational infrastructure,” Tenev stated, expressing optimism about achieving 24/7 trading in the EU soon.