Robinhood is working on a blockchain-based platform aimed at enabling traders in Europe to access U. S. financial assets, according to two sources familiar with the matter who spoke to Bloomberg. The new platform is reportedly considering integration with three blockchains: Arbitrum (ARB), Ethereum (ETH), and Solana (SOL). This initiative will involve a partnership with a digital asset firm, the report notes. Tokenized assets have emerged as a key area for traditional financial institutions seeking deeper involvement in the crypto space.

Several companies have already launched tokenized funds, with some analysts projecting the market could expand to $23. 4 trillion by 2033. Tokenization involves creating a digital token on the blockchain that represents a traditional asset. This process enhances data security, enables faster settlement of transactions, and increases liquidity, among other benefits.