Robinhood Blockchain Triples in Size Amid Shift to Tokenized Stocks

Roger that, Robinhood's blockchain has tripled in size since mid-July.

The online brokerage launched its own blockchain, Robinhood Chain, on July 1st. Initially, it was dominated by meme coins, but investors gradually shifted towards tokenized stocks. By late July, real-world assets (RWAs) on the platform reached $70 million.

The growth of this blockchain is a game-changer for Robinhood's stock. Tokenized stocks are more efficient than traditional stocks as they can be traded 24/7, split into fractional shares, and easily flow across international borders.

RWAs on the platform have tripled in size since mid-July, with tokenized stocks like GameStop, Nvidia, and SpaceX having a combined trading volume of approximately $47 million. This could widen Robinhood's moat against larger competitors and increase user stickiness by locking them into a single closed loop for trading stocks and cryptocurrencies.