Robinhood Markets (HOOD) Soars 12.77% on Europe Token Launch
Robinhood Markets surged by 12.77 percent on Monday to finish at $93.63 apiece as investors cheered the launch of tokens that will allow its European customers to invest in the US stock market.
In a statement, Robinhood Markets, Inc. (NASDAQ:HOOD) said that its Robinhood Stock Tokens are now available to customers within the European Union, giving exposure to more than 200 US stocks and ETF tokens.
The tokens feature zero commissions, dividend support, and 24/5 access. Stock token holders will also receive dividend payments directly in their app.
'Crypto was built by engineers for engineers, and has not been accessible to most people,' said Johann Kerbrat, General Manager and SVP for Robinhood Crypto. 'We're onboarding the world to crypto by making it as easy to use as possible—with the goal of bringing powerful tools into one intuitive platform.'
According to Robinhood Markets, Inc. (NASDAQ:HOOD), stock tokens will initially be issued on Arbitrum.
In the future, tokenized stocks will be facilitated by the company's own Robinhood Layer 2 blockchain, based on Arbitrum.
A successful business person confidently managing their finances on a mobile device.
Currently in development, the Robinhood blockchain will be optimized for tokenized real-world assets and built to support 24/7 trading, seamless bridging, and self-custody.
While we acknowledge the potential of HOOD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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