Robinhood CEO Vlad Tenev announced upcoming features for the brokerage's Stock Tokens, including in-kind redemption and voting rights for eligible holders. The company is currently developing these capabilities to enhance the utility of the assets.
The platform's Stock Tokens have accumulated over $170 million in total value locked shortly after their introduction. Additionally, the Robinhood Chain has processed nearly $50 billion in decentralized exchange volume.
Johann Kerbrat, senior vice president of crypto and international at Robinhood, noted that the tokens are designed to be composable. This architecture allows developers to build new financial products around the existing tokenized assets.
Currently, each Stock Token is backed one-to-one by actual shares held in custody, with Robinhood purchasing a real share for every minted token. Holders receive the economic equivalent of dividends and corporate actions via reinvestment.
