Robinhood unveils crypto-heavy roadmap that lifts stock to all-time high

Robinhood’s Inventory (Hood) reached a brand new of all time Excessive (ATH) after it had revealed plan To launch varied revolutionary merchandise, together with its personal layer 2 blockchain, tokenized shares, perpetually futures -trade and crypto -strike providers.

After the information, the share rose round 11% to $ 92, a brand new all time for the corporate. This expands a progress development that the shares have risen by greater than 34% this month.

Robinhood’s new product vary

On June 30, Robinhood revealed plans to launch a layer of two blockchain constructed on the Arbitrum community. This blockchain is designed to enhance the scalability of Ethereum and on the similar time help the tokenization of real-world property.

The platform provides capabilities comparable to 24/7 commerce, seamless bridges and self-confidence, strengthening the shift of Robinhood to turn out to be a extra intensive platform that integrates conventional financing and crypto-based merchandise.

As a part of this enlargement, Robinhood is planning to supply greater than 200 US shares and ETFs on the Arbitrum community. This permits eligible European prospects to entry these property with out commissioning prices or to incur further spreads.

The CEO of the corporate, Vlad Teev, demonstrated The brand new service at an occasion in Cannes, France, presents the Actual-World Software by finishing up a share in inventory transaction for OpenAI on the Arbitrum community.

Perpetual futures

Along with Tokenized shares, Robinhood is making ready for the launch of crypto -central futures on the European market by the tip of the summer season. With these futures, merchants can get steady publicity to crypto, with leverage of a most of 3x.

The corporate said that the orders for the brand new product are routed by way of Bitstamp’s Perpetual Futures Change.

Robinhood additionally launched crypto strike providers for American prospects, beginning with Ethereum and Solana. With these providers, buyers can earn rewards by placing their property to help the blockchain networks.

Johann Kerbrat, GM and SVP from Robinhood Crypto, emphasised that these improvements had been designed to make crypto as accessible as doable.

He mentioned:

“Crypto was constructed by engineers for engineers and has not been accessible to most individuals. We’re the world on board Crypto by utilizing it as simply as doable – with the goal of bringing highly effective instruments into one intuitive platform.”

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