Robinhood's Kerbrat pushes tokenization as memecoins rule its token-less L2

Robinhood Crypto SVP Johann Kerbrat says the firm’s tokenization work is “just the beginning,” choosing to direct focus to the network’s technical infrastructure over issuing a token. 

The network is currently focusing on its new stock tokens, which give users access to 24/7 on-chain versions of equities like Nvidia and Apple. 

Does Robinhood Chain have a token? 

Per Cryptopolitan’s earlier reporting, Robinhood Chain decided to deviate from the strategy of most networks and shipped without a native token. It is a permissionless, EVM-compatible layer-2 built on Arbitrum’s tech stack that settles to Ethereum and charges gas in ether. 

Robinhood’s focus for the chain is its new Stock Tokens, which are 24/7 on-chain versions of equities like Nvidia and Apple. They give users economic exposure but no legal claim on the actual shares. They are available in over 120 countries, but not to U.S. persons. 

Cryptopolitan reported OAK Research findings that more than 99% of the chain’s trading volume has come from memecoin activity. A cat-themed token named CASHCAT, a nod to Robinhood’s old mascot, climbed more than 5,500% in a week toward a roughly $200 million market cap.

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