Robinhood is working on a blockchain-based platform aimed at providing European traders with access to U. S. financial assets, according to two sources familiar with the situation who spoke to Bloomberg. The new platform is reportedly considering three blockchains—Arbitrum (ARB), Ethereum (ETH), and Solana (SOL)—and will be developed in collaboration with a digital asset company, the report stated. Tokenized assets have emerged as a key focus for traditional financial institutions looking to expand further into the crypto space.

Several firms have already introduced tokenized funds, with some analysts projecting the market to reach $23. 4 trillion by 2033. Tokenization involves creating a digital token on the blockchain that represents a traditional asset, enhancing data security, enabling faster transaction settlements, and increasing liquidity, among other benefits.