Key takeout
Openai denied involvement or approval of the launch of Robinhood’s tokenized equity on Arbitrum. Robinhood introduces over 200 tokenized stocks in Arbitrum, including Openai, Microsoft and Nvidia, targeting European clients.
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Openai has denied its relationship with Robinhood’s tokenized equity launch on Arbitrum, saying it does not approve or endorse the creation of “Openai tokens” on its blockchain platform.
“These ‘Openai tokens’ are not fair for Openai. We did not partner with Robinhood, did not engage in this, nor did we support it,” Openai posted on X on Wednesday. “Acknowledgement of Openai equity requires approval. The transfer was not approved.”
Robinhood recently expanded its offering to include European Union tokenized US stocks and ETF tokens, providing users with new investment opportunities in over 200 US stocks.
The company deploys approximately 213 tokenized stocks in the Arbitrum blockchain, including inventory from Microsoft, Nvidia and Openai. Blockchain data shows that tokens are minted for just $5 in gas prices, averageing around 3 cents each.
The initiative follows a similar move with a centralized exchange between Bybit and Kraken, and recently launched the offering of tokenized stock products through Bucked Finance’s Xstocks. More than 60 stocks are now available on Solana-based Defi platforms, including Bybit, Kraken and stocks in Apple, Tesla, Meta and Robinhood.
The Securities Industry and Financial Markets Association (SIFMA) is urging the US SEC to reject tokenized equity products launched with exempt relief, and instead calls for a transparent public process.
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