Carvana Joins Blockchain Ranks with Tokenized Stock

Carvana Co., an online used car retailer, has partnered with Robinhood to issue a tokenized representation of its common stock on Robinhood's blockchain.

The token, called CVNA, tracks the price of Carvana Co.'s underlying shares and is freely transferable within the Robinhood Chain ecosystem.

According to Coinbase, the current market capitalization of CVNA is £149.19, with a 24-hour trading volume of £134.39.

This move marks part of Robinhood's broader initiative to expand access to tokenized U.S. equities via blockchain technology.