Johann Kerbrat: Robinhood's Tokenized Stocks Hit $1.2 Billion Daily Volume, 70% Outside Market Hours

The SEC recently introduced an innovation exemption allowing tokenized U.S. equities to trade on blockchain platforms, provided they meet strict requirements for shareholder rights and auditability. Johann Kerbrat, representing Robinhood, highlighted that this regulatory shift marks a transition for tokenization from an offshore curiosity to a viable U.S. market product. Currently, Robinhood's stock tokens function as debt instruments backed by underlying shares rather than direct equity, creating a strategic fork as the firm evaluates building compliant, high-fidelity tokenized securities. Data from the first two months of Robinhood Chain shows that 70% of trading volume occurs outside traditional market hours, signaling significant demand for 24/7 financial infrastructure. While Robinhood leverages Ethereum for security and decentralization, the company faces challenges regarding price divergence and the need for a unified federal regulatory framework. Kerbrat emphasized that the long-term goal is a singular, blockchain-based market that renders the distinction between traditional and new systems obsolete. Looking ahead, Robinhood plans to expand its tokenization efforts beyond equities into private equity, real estate, and additional commodities.