Robinhood adds 200K tokenized stock holders in launch week

Robinhood Chain, a Layer 2 network built on Arbitrum, handles the backend. The chain recorded roughly 200,000 daily active addresses in the early days, which tracks with the holder growth, Robinhood said.

The brokerage has about 28 million customers. The 200,000 new holders represent less than 1% of that base. Kraken has also been expanding its tokenized asset offerings, and both firms are competing to become the default platform for equities on blockchain.

The U.S. exclusion comes as transfer agents push the SEC to restrict unaffiliated tokenized stocks. Each token's 1:1 backing means a custodian must hold the underlying shares, which introduces counterparty risk that direct stock ownership avoids.

The product is live now outside the U.S.