Robinhood Markets is facing regulatory attention in Europe after promoting blockchain-based "stock tokens" linked to OpenAI and SpaceX. The project launched on June 30, guaranteeing qualified EU users a small parcel of these tokens, with plans to expand access to over 200 US stocks later this year.
The decision attracted criticism from OpenAI, which publicly said that any transfer of its equity needed clearance and advised investors to proceed with caution. In response, Robinhood CEO Vlad Tenev stressed that the tokens are derivatives designed to provide retail exposure, rather than genuine shares in the company. European regulators, including the Bank of Lithuania, have demanded additional information about the tokens' structure and whether they blur the distinction between ordinary equity and derivatives. Lithuania's central bank acknowledged that it is seeking an explanation from Robinhood.
Despite the ongoing scrutiny, on-chain data shows that Robinhood issued approximately 215 stock tokens on the Arbitrum Layer 2 network, indicating that testing is still happening. In addition, the corporation has dubbed one SpaceX token "Demo 1," showing that the pilot period is still ongoing.
Robinhood is apparently intending to expand its cryptocurrency operations by including perpetual-futures trading and launching its own Arbitrum-based Layer 2 blockchain.
