The brand new blockchain broadens the corporate’s crypto providing by combining tokenized equities, decentralized lending and perpetual futures on an Arbitrum-based Ethereum layer-2 community, the analysts stated.
Whereas early buying and selling has been pushed by memecoins, the dealer expects Robinhood to more and more deal with tokenized real-world property, together with shares and commodities, alongside perpetual futures.
The report additionally highlighted Robinhood’s integrations with companions together with Uniswap, Morpho, Lighter, Chainlink and BitGo as key to constructing liquidity and increasing the utility of tokenized property.
The launch comes as tokenized real-world property proceed to outperform the broader crypto market. The sector has grown to greater than $51 billion, up about 50% yr thus far, whereas tokenized equities have expanded roughly 170% this yr to $1.9 billion, underscoring rising investor curiosity in regulated asset tokenization, the report added.
Bernstein has an outperform score on Robinhood inventory with a $130 worth goal. The shares have been 0.6% decrease in early buying and selling Monday, at $111.35.
Learn extra: Robinhood rolls out public blockchain because it expands deeper into crypto
