Robinhood plans to launch Layer 2 blockchain and offer “stock tokens” in the EU

Odaily News Online brokerage Robinhood announced that it will allow EU customers to trade US stocks and ETFs on the blockchain. These assets, called "Robinhood stock tokens," will enjoy zero commissions, and holders will receive dividends within the broker's app. In addition, Robinhood plans to eventually move these tokenized stocks to its own Layer 2 chain, describing it as "based on Arbitrum." Layer 2 chains are built on top of major blockchains such as Ethereum and are generally faster and more efficient.